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When is Corporation Tax Due for a Limited Company?

    I’ve updated this post on 16 May 2020

    There are two corporation tax due dates that you need to be aware of if you have a Limited Company.

    These are:

    1. Corporation tax payment is due 9 months and 1 day after the end of your accounting period;
    2. Corporation tax return is due 12 months after the end of your accounting period.

    What is an Accounting Period

    An accounting period is the period of time HMRC uses to calculate the amount of corporation tax due. 

    For corporation tax purposes, an accounting period can never be more than 12 months and it will generally match the financial year you use to prepare your year-end accounts.

    There are times when an accounting period is more or less than 12 months. Usually for new Limited Companies, those that have ceased trading or those that change their accounting reference date.

    Example

    A Limited Company has a financial year-end of 31 December 2019. 

    Its accounting period for Corporation Tax purposes is 1 January 2019 to 31 December 2019 so:

    1. Corporation tax must be paid by 1 October 2020;
    2. The corporation tax return must be filed by 31 December 2020.

    Corporation Tax Due Dates For a New Limited Company

    New Limited Companies often have a first accounting period that is more or less than 12 months.

    An accounting period for corporation tax purposes cannot be more than 12 months, in the first the financial year it may be necessary to file two corporation tax returns.

    Example

    A Limited Company was formed on 3 March 2020 and its accounting period ends 31 March each year.

    In the first year, the Limited Company will have two accounting periods for corporation tax purposes.

    The Company will need to submit two corporation tax returns for:

    1. 3 March 2020 to 31 March 2020 and;
    2. 1 April 2020 to 31 March 2021.

    The corporation tax due dates for the new Limited Company in its first year will be:

    1. Corporation Tax must be paid by 1 January 2022;
    2. Corporation Tax returns are both due for filing by 31 March 2022.

    How to Pay Corporation Tax Due

    The easiest way to pay any corporation tax due is to do it with online banking. 

    You can find payment details on your Corporation Tax Payslip but if you have misplaced this then use the following bank details for your payment:

    Account nameSort codeAccount number
    HMRC Cumbernauld08321012001039
    HMRC Shipley08321012001020

    Always use your 17-character Corporation Tax payslip reference for the accounting period you’re paying so HMRC knows how to allocate your payment.

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    Anita Forrest
    About Anita Forrest

    Anita is a Chartered Accountant with over a decade of working with small business owners. She is the creator of the ‘Go Self Employed’ website, where she simplifies complicated self-employment topics such as taxes, bookkeeping, banking and insurance.