When is Corporation Tax due?

Corporation Tax is due nine months after the end of the accounting period, and is usually payable at the ‘small companies rate’.
Provided your taxable profits do not exceed £300,000, you will pay corporation tax at the ‘small companies rate’ (for details see the Tax Information Sheet) on all profits left in the company, due nine months after the end of the accounting period. If the company makes a loss in the following year, it is usually possible to recover some or all of the tax paid, but you should not plan your affairs in this way.

At the end of the year we will prepare your corporation tax computation, and agree this with you, before submitting your corporation tax return to HMRC.

If you have a controlling interest in any other private limited companies, these may be associates companies and the £300,000 profit limit for the ‘small companies rate’ to apply will be divided by the number of associated companies.

Amy FowlerWhen is Corporation Tax due?