Corporation Tax payment

Who needs to do this, and who is responsible?

[CONTENT REVIEW] A company with tax to pay must arrange payment. Directors retain legal responsibility even when an accountant helps. Agree who checks and authorises it.

When is it due?

[CONTENT REVIEW] Payment is usually due nine months and one day after the accounting period ends. Instalment rules create different deadlines; check whether they apply.

How ComplyClock calculates deadlines

What does it cost?

[CONTENT REVIEW] Pay the calculated tax liability, rather than a flat filing fee.

What you need

• [CONTENT REVIEW] The tax calculation and the accounting period being paid.
• [CONTENT REVIEW] HMRC's 17-character payment reference for that specific accounting period.

How to do it

1. [CONTENT REVIEW] Confirm the amount, deadline and period-specific reference in HMRC's records.
2. [CONTENT REVIEW] Choose an accepted payment method and allow its stated processing time.
3. [CONTENT REVIEW] Arrange for HMRC to receive the payment by the deadline and check its allocation.

What happens if it is late?

[CONTENT REVIEW] HMRC charges interest on late Corporation Tax. Using the wrong period reference can cause payment to be allocated incorrectly.

Official guidance

• Paying Corporation Tax
• Directors' responsibilities