The system will run in parallel with the current downloadable PDF system until 1 April 2017.

Companies will still be able to download company tax returns for accounting periods ending on or before 31 December 2015 until 1 April 2017 and use that software to file or amend downloaded company tax returns until September 2017.

From September 2017, all company tax returns from these types of companies and charities will only be able to file using the online service provided by HMRC.

Companies intending to use the existing PDF software should aim to file any outstanding returns for accounting periods ending on or before 31 December 2015 before the normal filing date, 31 December 2016.

However, the existing PDF software will be available until its official withdrawal in April when it will not longer be available for use as a free filing option.

HMRC’s accounts template can be used to submit statutory accounts information to HMRC if the company or organisation has less than 12 directors at any one period of time. These templates automatically format the accounts in the right format.

The new online filing facility allows companies to report property income.

Directors' loans

It is worth noting that some outstanding directors' loans can be reported through the system depending on the repayment schedule.

An HMRC spokesperson confirmed that 'companies with outstanding directors’ loans can use the online system – it’s only if you report a repayment of a loan more than nine months after the end of the accounting period' that you will not be able to use the online service.

'When that happens the system will tell you what you need to do instead,' added HMRC.

The HMRC guidance, Corporation Tax: use HMRC's free filing services, is available here