What you need to do for Corporation Tax

What you need to do for Corporation Tax and when you need to do it

If your company or organisation is subject to Corporation Tax requirements you must:

  • Tell HM Revenue & Customs (HMRC) that it's liable for corporation tax
  • Pay the right amount of corporation tax on time
  • File a company tax return and supporting documents

There are different deadlines for each of these requirements. If you don't meet those deadlines, your company or organisation may be charged interest and/or penalties.

Pay before you file

Unlike other taxes such as Income Tax or VAT - where in most cases the filing and payment deadlines are identical - this is not the case with Corporation Tax. The deadline to pay your Corporation Tax is before the deadline to file your Company Tax Return. Generally, you must:

  • Pay by 9 months after the end of your company or organisation's corporation tax accounting period
  • File by 12 months after the end of your company or organisation's corporation tax accounting period

For example, if your company or organisation's financial year runs from 1 April 2008 to 31 March 2009, and your Corporation Tax accounting period is the same, you must:

  • Pay your Corporation Tax for that period by 1 January 2010
  • File your Company Tax Return for that period by 1 April 2010

If your company's profits for an accounting period are at an annual rate of more than 1.5 million, you must normally pay your Corporation Tax for that period in instalments, all of which are due before the deadline to file your Company Tax Return.

Whether you owe 100 or 10,000, the first thing you should do is try to find possible sources to get advice. Please call us or apply online for advice on corporation tax.