We are announcing a significant expansion of the Zoho Books UK Edition, which now incorporates Corporation Tax (CT600) and Final Accounts filing. This major update firmly establishes Zoho Books as a comprehensive, end-to-end accounting platform, delivering simpler and more seamless compliance for Zoho Books customers.
Tax compliance is the cornerstone of effective business management. In our continued commitment to helping UK businesses meet the evolving requirements of HMRC, this launch builds upon the successful implementation of:
- VAT
- Construction Industry Scheme (CIS)
- Income Tax
What's Included in the Update?
This enhancement introduces two core compliance features, now available for early access:
1. Final Accounts Preparation
Also known as Year-end Accounts, these reports—including the Profit & Loss Account, Balance Sheet, and Notes to Accounts—summarise a company's financial performance. They are essential for both HMRC (Corporation Tax filing) and Companies House (Accounts filing).
- Current Scope: The initial release focuses on Micro-Entities under FRS 105 (Financial Reporting Standard for Micro-Entities). This simplified standard applies to limited companies meeting at least two of the following criteria:
- Turnover of £1 million or less
- Balance sheet total of £500,000 or less
- 10 employees or fewer
- Key Features Shipped:
- Direct Final Accounts generation for micro-entities.
- iXBRL exports (the mandatory machine-readable format for HMRC and Companies House).
- Direct submission to Companies House from within Zoho Books.
- Integrated approval workflow for generated reports.
2. Corporation Tax (CT600) Filing
Corporation Tax (CT) is levied on the profits of UK-based limited companies. Every company must file a Company Tax Return (CT600) annually, regardless of profitability, and pay the tax by the statutory deadline.
- Key Features Shipped:
- Automatic computation of taxable profit and necessary adjustments.
- Generation of the CT600 main form and supplementary form CT600A (Loans to Participators).
- iXBRL Export for both the CT600 form and tax computations.
- Direct filing to HMRC from within Zoho Books.
- Integrated approval workflow for the CT600 declaration.
How to Access the New Features
These new Corporation Tax and Final Accounts features are currently in early access and are expected to be available to all Zoho Books customers in the next 4-5 weeks.
As your dedicated Zoho Partner, we can request these features for your business. Contact our support team today to get early access to Corporation Tax and Final Accounts filing in Zoho Books.