When to pay Corporation Tax

Paying your Corporation Tax bill 

You are legally required to pay Corporation Tax if your company is registered as a limited company in the UK. Corporation Tax is paid on any profits you may have made for the financial year. 

Corporation tax bill payment deadline 

The deadline for your tax bill payment will depend on your taxable profits. 

1. Taxable profits of up to £1.5 million deadline 

Your Corporation Tax payment deadline will fall nine months and one day after the end of your accounting period if your profits are below £1.5 million. Generally, your accounting period is your financial year. However, it is best to talk to an accountant to get this clarified. 

2. Taxable profits of more than £1.5 million 

If your profits exceed £1.5 million, you must pay your Corporation Tax in instalments.:  

    a) For £1.5 million but less than £20 million profits 

If your company has a 12-month accounting period, you will have to pay in 4 equal instalments due: 

• Six months and 13 days after the first day of the accounting period. 
• Three months after the first instalment. 
• Three months after the second instalment (14 days after the last day of the accounting period). 
• Three months and 14 days after the last day of the accounting period. 

    b) More than £20 million profits 

If your company has a 12-month accounting period, you will have to pay in 4 equal instalments due: 

• Two months and 13 days after the first day of the accounting period 
• Three months after the first instalment 
• Three months after the second instalment 
• Three months after the third instalment 

This will be the 14th day of months 3, 6, 9 and 12 of the accounting periods.