Paying Corporation Tax through Barclays

[ChimpMaster]

I just had to jump through a couple of hoops as my Corporation Tax was greater than the £20k limit used by Barclays on their "Make a Payment" option. If you're trying to make a payment > £20k, don't select the account name (to whom you're paying) from the automatic list that comes up while you're entering the name, sort code or account number.

For example, while typing in Payee name of "HMRC", a list pops up with HMRC Corp. Tax etc etc but you need to ignore those and just type in the name yourself.

You have to go through all boxes and enter all details manually, then you'll be allowed to make a payment up to £50k.

I called telephone banking and the Indians weren't helpful (they just cut me off ) but on my second attempt I was lucky to get a lovely sounding lady Gem who told me what I needed to do.

Just thought I'd post this in case someone else gets stuck!

[SimonMac]

If you are paying more than £20k Corp Tax I would find a better accountant!

[ChimpMaster]

If you are paying more than £20k Corp Tax I would find a better accountant!

Really? I thought maybe I could just earn less

[SimonMac]

Really? I thought maybe I could just earn less

You can still earn a lot and pay less tax

[centurian]

My bank had an ever lower daily limit, so I just made 3 separate payments over 3 days.

Just use the same reference number for each payment and HMRC's system allocates them all fine - although I did ensure that each payment was for a slightly different amount so that if one payment went missing, I could work out which one it was.

[ChimpMaster]

You can still earn a lot and pay less tax

Yes I have thought about skipping on VAT payments but the jail time just isn't worth it
Seriously though my costs are quite low and I don't push the boundary too much on what I claim - just the usual mileage, food etc (< 2 years). I'll probably buy a new laptop soon so that'll be the biggest expense in a while.

My bank had an ever lower daily limit, so I just made 3 separate payments over 3 days.

Just use the same reference number for each payment and HMRC's system allocates them all fine - although I did ensure that each payment was for a slightly different amount so that if one payment went missing, I could work out which one it was.

Yep this was my backup option, but I'm not as confident in HMRC's systems as you sound

[BolshieBastard]

I just had to jump through a couple of hoops as my Corporation Tax was greater than the £20k limit used by Barclays on their "Make a Payment" option. If you're trying to make a payment > £20k, don't select the account name (to whom you're paying) from the automatic list that comes up while you're entering the name, sort code or account number.

For example, while typing in Payee name of "HMRC", a list pops up with HMRC Corp. Tax etc etc but you need to ignore those and just type in the name yourself.

You have to go through all boxes and enter all details manually, then you'll be allowed to make a payment up to £50k.

I called telephone banking and the Indians weren't helpful (they just cut me off ) but on my second attempt I was lucky to get a lovely sounding lady Gem who told me what I needed to do.

Just thought I'd post this in case someone else gets stuck!

Why is any sane contractor using barcrap for their banking!?

They royally screw contractors at every opportunity. No way those shysters are getting any of my business.

[d000hg]

If you are paying more than £20k Corp Tax I would find a better accountant!

I dunno, I think he just wanted to tell us how much he'd earned

[Sockpuppet]

This is why I love my cheque book

Pay it over the counter at a bank and it counts as an "electronic" payment.

[centurian]

Yep this was my backup option, but I'm not as confident in HMRC's systems as you sound

Nor was I to begin with, so I

a) Checked with them before I started that multiple payments would be fine
b) Called them a few days after the last payment to confirm they had received all the payments and had been allocated to the correct corp tax year.