Why use cloud-based corporation tax software?

We used to be accountants, so we understand how complex and time-consuming corporation tax can be. With tight deadlines, detailed compliance requirements, and the need to deliver accurate results, having the right software makes all the difference when it comes to streamlining processes and removing stress.

But how can corporation tax software transform your practice, really? And what sort of difference can it make? 

It’s designed to simplify your job

Here’s the thing – the reason corporation tax software works well is because it’s entirely designed with the sole purpose of simplifying your job in mind. 

Good corporation tax software handles all the most common types of corporation tax returns and makes it faster and easier for you to make calculations and submissions accurately. It should catch and handle errors, cross-reference data, and provide calculation notes systematically. 

It’s also designed to save you time – without compromising accuracy

Corporation tax software’s ability to automate tedious processes is a game-changer when it comes to improving efficiency and reducing errors. Yes, there will still be many moving parts, from calculations to compliance checks, but automation makes it easy to stay on top of everything, with features like:

• Automated tax calculations: handling complex calculations automatically, factoring in updates to legislation or tax bands in real-time
• Error alerts: If something doesn’t look right, the software flags it proactively, giving you time to review and make corrections
• Live submission tracking: Once you’ve filed with HMRC, tracking the status of your submission in real-time can bring transparency and peace of mind.

It integrates with your existing software – and HMRC

The best corporation tax software doesn’t just simplify tax returns – it also integrates smoothly with the other systems you rely on, keeping data flow straightforward and reducing the need for duplication. It should:

• Integrate with your existing systems: data should flow between bookkeeping, accounts production, and corporation tax modules, so there’s no need to manually re-enter information
• Support direct HMRC submissions: Allowing you to submit CT600 forms and accompanying accounts directly to HMRC without leaving the platform
• Improve reporting: with consistent data, you can create accurate, customised reports for clients with ease.

You can access it securely from anywhere

One of the key benefits of using cloud-based corporation tax software is the ability to access your systems anytime, anywhere. That becomes especially handy during busy tax periods, when you’re juggling multiple clients. 

With corporation tax software, you can work from home with confidence – because as long as you’ve got an internet connection, you’ll be able to securely access your clients’ tax data. Software often supports multi-user access, too, meaning your team can collaborate easily, no matter where they’re located. 

It’s built with security in mind

The right corporation tax software should be built on a foundation of data security: prioritising the safeguarding client information and making staying up to date with evolving regulations a key part of its ongoing development. Look for:

• GDPR compliance: The software ensures your firm meets data protection standards, giving your clients confidence that their information is safe.
• Secure UK-based servers: Data is hosted on highly secure servers, protecting against breaches and ensuring compliance with local regulations.
• Automatic updates: Stay ahead of regulatory changes with software that automatically integrates updates to tax laws, deadlines, and submission processes.

With these features, good corporation tax software makes sure you’re always compliant, while keeping client data secure.

It should support you as you scale

What your firm needs right now might not be the same in the future. To save the hassle of swapping platforms, the right corporation tax software should grow with you, accommodating more clients, more users, and more complex tax scenarios as your practice evolves.

We’ve built the below features into our corporation tax software with that in mind:

• Support for all CT600 variations: our software supports both straightforward returns and more complex forms like R&D claims
• Flexible pricing plans: our pricing is flexible and simple: you only pay for what you use as your firm grows, and prices start from £18 per month for 100 clients.

Ready to try corporation tax software?

From automating tax calculations to ensuring seamless integration and robust security, the right corporation tax software can revolutionise the way your firm works. Want to see it in action? Sign up for a free trial today and discover how Capium can help.