Corporation tax
Corporation tax is payable by UK resident companies and unincorporated associations on the tax adjusted profits that they make for each accounting period. There are various rates depending on the level of the profits.
A company is required to complete a self assessment tax return form and submit this to HM Revenue & Customs one year after their accounting year end. They are also required to pay any corporation tax due 9 months and 1 day after the end of the accounting period. Large companies must make quarterly payments on account of their estimated corporation tax liability.
If a company has taxable profits of over £1.5 million it must pay its corporation tax quarterly under the self assessment rules for companies.
This page was last reviewed on 03 April 2006. The information may not reflect changes in legislation made after this date.
This is only a guide to your tax position and should not be relied on in place of professional accounting or tax advice. Any calculated figures are illustrative and are based on the data you provided.
