How to choose the right corporation tax software as an accountant

Good corporation tax software should simplify your job as an accountant. The right tool can make a big difference to your day to day – improving efficiency by handling corporation tax returns quickly, efficiently, and accurately. 

But how do you know which one is right for your firm – both now, and in the future? Here are some key things to consider when making your choice.

What challenges are you trying to solve?

It’s the first question we’d advise asking before investing in any software: what immediate problem or challenge are you trying to solve? Before diving into the options, taking a step back to think specifically about what you need the software to do can help keep you clear and focused. 

When it comes to managing your corporation tax returns, for example:

• Are you looking to save time by automating tax calculations and submissions?
• Do you need a system that can handle different types of CT600 forms like full forms, short forms, or R&D claims?
• Would it help to have live updates on submission statuses to keep clients in the loop?

Understanding where the gaps are in the way you currently approach corporation tax is a good first step in selecting the most appropriate software for your firm. 

What do you need right now?

A similar, but slightly different, question to the one above: what are your most immediate needs? Solving the above challenges might take time – but what do you need to happen right now, or what would enable you to solve those challenges most quickly? 

In the case of corporation tax, you might be looking for:

• A user-friendly system that’s easy for your team to pick up
• Integration with the tools you already use, like bookkeeping or accounts production software
• Confidence that the software complies with regulations (like Making Tax Digital). 

Knowing what boxes you need your software to immediately tick will help make your decision-making process easier when you’re ready to make a purchase.

Will this software grow with you?

Now you’ve identified the challenge you’re trying to solve and the most immediate needs you have to have in place right away, it’s time to think a little further ahead. The demands you’re planning to put on your corporation tax software right now might look dramatically different in the next few years. It’s worth asking:

• Will this software still be relevant as I scale? How do I know?
• If I bring in more clients, will it still meet my needs?
• What about if I start processing different types of corporation tax returns? 

Compile your list of questions, and if the answer isn’t immediately obvious, don’t be afraid to ask. Good software providers will be transparent about the capabilities of their software and the plans available to you as your requirements change. 

What kind of support might I need?

Switching to new software can feel like a big step for your team, so it’s important to consider what kind of support you’re likely to need – and to then map that to the level of support or customer service available with each provider. When evaluating software, ask:

• Is there help available when I need it? What are the methods of communication and opening or access hours?
• Are there training resources available to help my team learn quickly? Do they come at any extra costs?
• Can I try this out before committing to make sure it works?

The level of support on offer is often indicative of how powerful your corporation tax software is likely to be – because good providers understand that good software lives or dies by its implementation. 

Is it secure and compliant?

As is true for all types of cloud-based accounting software, it’s essential that your corporation tax software keeps your client’s data safe and complies with all relevant regulations. Make sure to look out for:

• GDPR compliance
• MTD compliance
• Secure, reliable data hosting and automatic updates. 

Ready to find the right software?

Choosing the right corporation tax software comes down to finding a solution that solves your challenges, fits your current needs, and supports your future growth. Capium’s corporation tax software does all this and more. With features like automated calculations, seamless integrations, and real-time HMRC submissions, it’s designed to make your life easier and your firm more efficient.

Sign up for a free trial to see how it can help streamline your corporation tax processes.