When is the corporation tax return deadline?

Sep 26, 2023 | Business, Business tax

As a business owner, staying on top of all your responsibilities is important, none more so than meeting the corporation tax return deadline. Tax talk might not be everyone’s favourite topic, but it’s absolutely vital to running a limited company successfully.

In today’s article, we’ll make sure you know exactly what corporation tax to pay, when to file and how to stay in control of your business tax.


Understanding your tax deadlines

If you own a limited company, you’re probably quite familiar with HM Revenue and Customs (HMRC).

HMRC requires you to report and pay corporation tax, so it’s essential to understand your tax liability and ensure that your accounts are in perfect order. You’ll also need to file annual accounts with Companies House, which can usually be done at the same time as your company tax return.

Every limited company is obligated to file a company tax return and, naturally, pay corporation tax on all taxable income. But when do you need to file these, and when is corporation tax due to be paid?

After the end of your company’s financial year, you have 12 months to file your corporation tax return. 

For example, if your financial year ended in April 2023, you should send it by April 2024 to meet the deadlines for filing.

The due date for the corporation tax payment is 9 months and 1 day after the end of the accounting period, typically corresponding with the financial year.

So, if your financial year finished at the end of March 2023, your corporation tax would be due on the 1st of January 2024.


Filing with Companies House

Balancing obligations between HMRC and Companies House is crucial. Both entities require different submissions.

You must send your annual accounts, summarising your company’s financial activity, to Companies House within 9 months of your company’s financial year-end.

So, using the previous example, they should receive your accounts by the end of December 2023.


Manage deadlines effectively

Adhering to tax deadlines is essential, especially for newcomers to the business landscape.

Late submissions are not viewed kindly by HMRC and Companies House, and delays can lead to penalties and impact your company’s standing.

Even if your company doesn’t owe any corporation tax, you are still required to file a company tax return. So it’s essential to be proactive, stay informed about the due dates and ensure timely submissions of all documents.


As a new company

For new companies, it is mandatory to notify HMRC within three months of commencing business activity.

You usually have 18 months to file your first corporation tax return, depending on the initial accounting period’s length.


Need more support?

Feeling overwhelmed with all these dates and deadlines? We all do sometimes – it’s a part of business that can’t be avoided.

Whether you need clarity on when your return is due, calculating your corporation tax bill, or understanding the nuances of filing your accounts with Companies House, speaking to an accountant, like us, is a great way to stay on top of your tax bill.

Being mindful of the corporation tax return deadlines is a crucial aspect of managing your business. By keeping track of your financial year-end, staying aware of your responsibilities to HMRC and Companies House, and ensuring timely filing, you can manage your business’s financial responsibilities efficiently.

Remember, we’re here to make your journey smoother, so don’t hesitate to reach out if you find yourself struggling with tax liability and corporation tax returns.

Get in touch to discuss how we can help you meet your corporation tax deadline.

Quickbooks logo
Freeagent logo
Freeagent logo
ICAEW logo

Let's get going

We don’t bite. Let’s hear what we can do for you.