Corporation Tax

Corporation Tax is a tax on the taxable profits of limited companies. If your company or organisation is based in the UK, you’ll have to pay tax on all your taxable profits, wherever in the world those profits come from. See below for more information on how we can help with a range of tax advice in and around Wiltshire.

We can help you:

  • Tell HMRC that your company is liable for Corporation Tax
  • Pay the right amount of Corporation Tax on time and electronically
  • Complete and file a Corporation Tax return with the required supporting documents and computations

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.

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 and one day 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 2016 to 31 March 2017, and your Corporation Tax accounting period is the same, you must:

  • Pay your Corporation Tax for that period by 1 January 2018
  • File your company’s tax return for that period by 31 March 2018

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.

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