A penalty may be charged if you deliberately:. If, following a review at the next instalment date of the latest management accounts and forecasts, you find that your Corporation Tax liability will be less than expected, you can make a claim for repayment of some or all of your instalment payments.
In some circumstances, you may make a repayment claim where the revised calculation of your liability includes anticipated losses from your current accounting period that has not yet ended.
This may occur where you have sustained significant losses. You will need to provide supporting evidence to verify the losses and support your claim for repayment. Find out more information about repayment claims. Guidance updated with information on repayment claims if your Corporation Tax liability is less than expected due to exceptional circumstances.
Guidance updated to show it won't be possible to make a payment with a personal credit card from 13 January Book your coronavirus vaccination and booster dose on the NHS website. To help us improve GOV. It will take only 2 minutes to fill in. Cookies on GOV. UK We use some essential cookies to make this website work. Accept additional cookies Reject additional cookies View cookies. Hide this message. Contents Large companies When instalment payments have to be paid Work out instalment payments Ring fence companies Work out instalment payments for ring fence companies Groups of companies Make an instalment payment Interest and instalment payments Penalties on instalment payments Repayment claims.
Print this page. This new figure is the annual threshold for your company. Example A company has 5 associated companies. A company is associated with another company if: one is under the control of the other both are under the control of the same person or persons Control is usually defined by reference to ownership of share capital, or voting power. Example Instalment payment dates for an accounting period 1 January to 31 December Payment Payment due date First payment 14 July Second payment 14 October Third payment due after the end of the accounting period 14 January Final payment 14 April Accounting periods less than 12 months If your company has an accounting period less than 12 months, your last instalment will be due 3 months and 14 days after the last day of your accounting period.
Example Instalment payment dates for an accounting period 1 January to 31 August Payment Payment due date First payment 14 July Second payment due after the end of the accounting period 14 October Final payment 14 December Example Instalment payment dates for an accounting period 1 January to 31 March Use this figure to work out your instalment payments.
Example Ring fence instalment dates for an accounting period 1 January to 31 December Your business. Planning for succession. Family matters. Family office. International expertise. Family business advisory Whether you are starting out, growing or an established, multi-generational business, you will need an advisor who understands your journey.
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Corporate tax instalment payments changes 14 June Large companies in the UK are currently required to pay their corporation tax liability in instalments - typically quarterly, with the first payment due six and a half months after the start of the accounting period and the final instalment due three and a half months after the period end. Small companies may be very large companies The mechanics of the regime mean that some relatively small operations in the UK that are part of a major multinational groups could very well be subject to the accelerated instalment payment regime.
Take action now Those responsible for company tax payments, if they have not already done so, should make sure that they understand the potential cash flow impact that this will have on their businesses and plan and budget appropriately. Share this page:. Necessary Necessary. Necessary cookies are absolutely essential for the website to function properly.
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