We’ve pulled together the latest information on how to pay your Corporation Tax and reviewed what business’s like yours need to do to ensure it all goes smoothly.
When does a business need to pay Corporation Tax?
If your profits are less than £1.5 million* then your deadline to pay is nine months and one day after the end of your accounting period for your previous financial year. The deadline to pay is specific to your business.
- Your accounting year / financial period ends: 31 April.
- Your Corporation Tax deadline is 9 months and 1 day later: 1 February.
It is very important to adhere to these deadlines as you may incur late penalties if you miss it. If your business makes more that £1.5 million in profits then this deadline will not apply because you will be required to may your Corporate Tax in instalments.
*Note: this threshold is proportionately reduced by the number of 51% related companies in the group.