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Due date for payment of CT

Companies with taxable profits of up to £1.5m (‘small companies’) are required to pay all of their corporation tax nine months and one day after the end of the chargeable accounting period.

For example, where a chargeable accounting period ends on 31 December 2022, the due and payable date for corporation tax is 1 October 2023.

Companies with taxable profits in excess of £1.5m in a chargeable accounting period must pay their corporation tax in instalments. The rules and deadlines vary depending on whether profits are between £1.5m and £20m (‘large companies’) or in excess of £20m (‘very large companies’).

A chargeable accounting period cannot exceed 12 months for corporation tax purposes.

If a company’s accounting period is more than 12 months long, the period is split into two for the purpose of calculating the corporation tax payable.