Corporation Tax 2018/19

Notes

1. Most companies must pay their Corporation Tax within nine months and a day after the end of the accounting period.
2. Large companies or groups generally make four quarterly payments on account of Corporation Tax, starting in the seventh month after the start of a 12-month accounting period. The payment is made on the 14th day of the relevant month, with interest running on any balance due until final settlement of the period’s liability.
3. All companies must file Corporation Tax returns online within 12 months after the end of the accounting period.

Research and Development

Notes

1. The above enhanced deduction is for qualifying revenue expenditure on qualifying R&D projects; various conditions apply to both terms.
2. Where an SME makes a loss it can surrender that loss for a payable tax credit worth 14.5% of the loss.
3. RDEC is a taxable expenditure credit for qualifying R&D.

Special reliefs

Notes

1. No deduction available for any goodwill acquired from 8.7.2015 and to goodwill on incorporation from 3.12.2014.
2. The above is a brief summary of selected reliefs available to companies; other conditions apply in each case.