Ensuring your tax return is completed and filed before the relevant deadlines should be a priority for every business. With the scope of information available, however, it can be confusing to know which method is best for actually doing so.
Which really is the best way to submit your tax return?
Your Tax Return Options
When it comes to submitting a return, you have three simple options:
- File your paper return via the post
- File your online return through the HMRC website
- Use dedicated software in the case of corporate returns
Everyone has their preference, which is going to be right for you?
Choosing the Best Way to File
Some still prefer to send their returns via the post, and indeed in certain circumstances such as a return for a trustee of a registered pension scheme, it’s the only way.
Many, however, prefer to send their tax returns online. This is for good reason, as there are many benefits of sending a tax return online to consider. These benefits include an extended return deadline, speed of application, and simplicity of rectifying any errors.
If you want to make your return as quick and stress-free as possible, online is the best way to do it. But how should you do it online? You have the choice between doing it via the HMRC website if you’re a business owner or through dedicated accounting software. Many choose the latter. Why?
What can Dedicated Accounting Software Offer You?
Corporation tax software makes it easy for you to compile and file your tax return. Using dedicated software, you’ll be able to have such features as data pre-population, to minimise the risk of data entry errors, and full CT600 supplementary schedule support.
Dedicated corporation tax software is designed to make the process of working out your obligations more intuitive, accurate, and seamlessly integrated into your day to day business processing. The software is fully HMRC-compliant and is suitable for both standalone installations and as a part of a cloud-based network.
Through using corporation tax software you:
- Save valuable time
- Minimise error risk
- Ensure regulatory compliance
- Integrate two-way functionality
- Benefit from enhanced security
These benefits are really only the start of what you can achieve through dedicated corporation tax software. Responsible software providers are consistently monitoring HMRC developments and updating the software accordingly, which means you can be sure you’re always operating within compliance guidelines. Data entry is made easier, filing returns is made faster, and the opportunity to make potentially costly mistakes is minimised through automation implementation.
These reasons, among many others, are why the best way to submit your tax return for many businesses is via dedicated corporation tax software.