Corperation Tax - payment not showing up in goverment gateway

[Mister Clark]

Usually three working days to get to their account, and perhaps give them another 2 days to process it. So long as you paid into the right account, and used the right payment reference, you should be fine. If it somehow goes into a slush fund due to them not allocating in properly (say you gave your VAT number as the payment reference instead of your Corp Tax reference number) to your corporation tax account no penalties or interest payment will arise because the payment was not actually late (it was just mis-allocated in their system).

Cheers Greg, appreciate the advice.

[Greg@CapitalCity]

Does anyone else know if it takes a while for this to be applied?

Usually three working days to get to their account, and perhaps give them another 2 days to process it. So long as you paid into the right account, and used the right payment reference, you should be fine. If it somehow goes into a slush fund due to them not allocating in properly (say you gave your VAT number as the payment reference instead of your Corp Tax reference number) to your corporation tax account no penalties or interest payment will arise because the payment was not actually late (it was just mis-allocated in their system).

[Mister Clark]

I've always thought, is this payment then company profit, at which corp tax is payable and which if you paid early you would receive an interest payment for... and then the loop begins again??

True but it's money for old rope. Gotta do it anyway so may as well make it work for you.

From HMR&C: If HMRC pays your company or organisation interest it is taxable income and must be included in your company accounts and Company Tax Return.

[MrRobin]

I hope you bought your significant other something nice.

The most I ever got was £450.

I've always thought, is this payment then company profit, at which corp tax is payable and which if you paid early you would receive an interest payment for... and then the loop begins again??

[Mister Clark]

I didn't even realize that I'd paid early until the cheque arrived.

£1.17

I hope you bought your significant other something nice.

The most I ever got was £450.

[TheFaQQer]

No.

I always pay company tax liabilities early:

HM Revenue & Customs: Interest paid when Corporation Tax is overpaid or paid early

Pays better intrest rates than the company account.

I didn't even realize that I'd paid early until the cheque arrived.

£1.17

[Mister Clark]

What interest? Are you paying HMRC interets on late payment? If you aren't then there is no interest for you as the money is no longer yours no matter how long it takes to show up.

No.

I always pay company tax liabilities early:

HM Revenue & Customs: Interest paid when Corporation Tax is overpaid or paid early

Pays better intrest rates than the company account.

[JamJarST]

Hi all,

I setup a direct debit via government gateway to pay last year’s corporation tax bill, the money left the account on the 17/11. The payment has yet to be reflected in the government gateway and is still showing as being owed.

Does anyone else know if it takes a while for this to be applied?

My main concern is HMRC have ballsed it up (plus I want the interest they owe however minuscule).
Ta.

What interest? Are you paying HMRC interets on late payment? If you aren't then there is no interest for you as the money is no longer yours no matter how long it takes to show up.

[Clare@InTouch]

I wouldn't be concerned about it showing so quickly, it would be unusual for HMRC to be that efficient. Give it at least 10 days, the payment should then appear and it will be dated the day they got it. If not, or it's not there, give them a call then.

[tractor]

..

Hi all,

I setup a direct debit via government gateway to pay last year’s corporation tax bill, the money left the account on the 17/11. The payment has yet to be reflected in the government gateway and is still showing as being owed.

Does anyone else know if it takes a while for this to be applied?

My main concern is HMRC have ballsed it up (plus I want the interest they owe however minuscule).

Ta.

I can understand your concern but shouldn't you call HMRC first?

Even with the remote possibility that the exact same thing has happened to anyone else, your circumstances will be different anyway so HMRC are the only people who can really help.

[Mister Clark]

Hi all,

I setup a direct debit via government gateway to pay last year’s corporation tax bill, the money left the account on the 17/11. The payment has yet to be reflected in the government gateway and is still showing as being owed.

Does anyone else know if it takes a while for this to be applied?

My main concern is HMRC have ballsed it up (plus I want the interest they owe however minuscule).

Ta.