Your company’s corporation tax bill is payable nine months and one day after the end of the company’s accounting period, so by 1 October for a period that ended on the previous 31 December.
The corporation tax bill may be the largest single tax payment you make in the year, so it’s essential to get it right. Check these points:
• Does the amount you are paying agree with the accounts and tax computation? You can pay an estimated amount if the tax return hasn’t been filed yet
• Are there sufficient funds in the company’s bank account? If you can’t pay the full amount due, contact HMRC to arrange for a ‘time to pay’ schedule. We can help you negotiate a reasonable payment period. You will pay interest on any late paid tax, but you should avoid a penalty if the time to pay is arranged in advance
• Are you paying the funds into the correct bank account? HMRC has changed its bank account numbers in the last few years. Check the account number and sort code saved in your online banking against the account number on the corporation tax payslip or on the notice to file form. If you can’t find the payslip, check on gov.uk/pay-corporation-tax
