How is Corporation Tax assessed and paid?
Corporation Tax is accounted for in 12-month periods, unless the accounting period from its commencement to the first accounting date, or the last period of operation, is less than 12 months. (You may already be thinking that it’s time to consult a professional accountant and, in our view, if you have a limited company and you are dealing with Corporation Tax you should certainly seek professional advice.) Every company has to fill in an annual Corporation Tax Return (Form CT600) and this Return has to be submitted by the company secretary or the directors within 12 months of the end of the accounting period. However, tax has to be paid, assuming we are dealing with a small company, nine months after the end of the accounting period. Big companies have to pay Corporation Tax at more frequent intervals.
Corporation Tax is accounted for in 12-month periods, unless the accounting period from its commencement to the first accounting date, or the last period of operation, is less than 12 months. (You may already be thinking that it is time to consult a professional accountant and, in your view, if you have a limited company and you are dealing with Corporation Tax you should certainly seek professional advice.) Every company has to fill in an annul Corporation Tax Return (form CT600) and this return has to be submitted by the company secretary or the directors within 12 months of the end of the accounting period. However, tax has to be paid, assuming we are dealing with a small company, big companies have to pay Corporation Tax at more frequent intervals.
Corporation Tax is accounted for in 12-month periods, unless the accounting period from its commencement to the first accounting date, or the last period of operation, is less than 12 months. (You may already be thinking that it’s time to consult a professional accountant and, in our view, if you have a limited company and you are dealing with Corporation Tax you should certainly seek professional advice.) Every company has to fill in an annual Corporation Tax Return (Form CT600) and this Return has to be submitted by the company secretary or the directors within 12 months of the end of the accounting period. However, tax has to be paid, assuming we are dealing with a small company, nine months after the end of the accounting period. Big companies have to pay Corporation Tax at more frequent intervals. Find out more about tax and your business.
