A UK limited company has three separate year-end deadlines, and they fall on different dates. Missing any of them brings automatic penalties.
The three deadlines
| What | When | Who to |
|---|---|---|
| Pay corporation tax | 9 months and 1 day after year-end | HMRC |
| File annual accounts (private company) | 9 months after year-end | Companies House |
| File the CT600 tax return | 12 months after year-end | HMRC |
Note that tax is paid before the return is due. Large companies pay in quarterly instalments instead.
Corporation tax rates
- Main rate: 25% for profits over £250,000.
- Small profits rate: 19% for profits of £50,000 or less.
- Marginal relief applies between £50,000 and £250,000.
These limits are reduced if the company has associated companies.
Also due each year
- A confirmation statement to Companies House at least once every 12 months.
- Payroll year-end reporting for employers.
A year-end routine
- Close the books and reconcile every account at the year-end date.
- Count stock and review debtors for bad debts.
- Prepare draft accounts and the tax computation.
- Plan the corporation tax payment against your cash flow.
- File accounts and the CT600, and keep the working papers.
Ask us to prepare your year-end pack for your accountant.
Frequently asked questions
Yes, for most companies. Tax is due 9 months and 1 day after year-end; the return is due 12 months after.
25% on profits over £250,000, 19% on profits up to £50,000, with marginal relief in between.
