For taxes such as Income Tax and VAT the filing and payment deadlines are identical – but the deadline to pay your Corporation Tax (the “normal due date”) is before the deadline to file your Company Tax Return.
- The “normal due date” is 9 months after the end of your Corporation Tax accounting period.
- If your taxable profits are £1.5 million or less, you must pay your Corporation Tax by the normal due date. (For example, if your company’s accounting period ends on 31 May, your Corporation Tax payment is due on or before 1 March the following year.)
- If your taxable profits are more than £1.5 million, however, your Corporation Tax for that period should be paid in instalments, all of which are due before the deadline to file your Company Tax Return.
- All companies and organisations must pay their Corporation Tax electronically.
- If you do not pay your Corporation Tax on time, your business will be charged interest on what you owe.
The deadline for filing your Company Tax Return is 12 months after the end of your Corporation Tax accounting period.