Noteworthy deadlines for corporation tax 24/25

Corporation tax is a tax that companies pay on their profits and is paid by all UK limited companies.

The deadline for Corporation Tax payments are scheduled for 9 months and 1 day after year end. This means that the deadline can change and is dependant on your year end. Companies with a year end of 31 December, for example, would pay their Corporation Tax by 1 October.

Here are the major Corporation Tax dates for limited companies to follow 2024-25 tax year:

1st October 2024

Due date for payment of Corporation Tax for period ended 31 December 2023

14th October 2024

Income tax due date for CT61 period to 30 September 2023

31st December 2024

Due date to file Corporation Tax for companies with 31 December 2023 year end

1st January 2025

Due date for payment of Corporation Tax for period ended 31 March 2024

14th January 2025

Income tax due date for CT61 period to 31 December 2024

31st March 2025

Corporation tax returns filed by companies with 31 March 2024 year end

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Corporation tax tips

Keep good records

To ensure that your corporation tax return is accurate and filed on time, it's crucial to maintain comprehensive and accurate records of your company's financial transactions throughout the year.

Understand the deadlines

Familiarise yourself with the deadline for filing your corporation tax return and paying any tax due. This will help you avoid penalties and interest charges, so it's worth staying on top of them.

Take advantage of deductions and allowances

To minimise your corporation tax bill, make sure you claim all the deductions and allowances you're entitled to. This includes expenses related to running your business, such as staff salaries, rent, and equipment costs.

Seek professional advice

If you're unsure about how to calculate your corporation tax liability, or if you need help with your tax return, it's wise to seek professional advice from a qualified accountant or tax advisor.

Plan ahead

To manage your corporation tax bill effectively, it's essential to plan ahead and budget for your tax liability. This can help you avoid cash flow problems and ensure that you have sufficient funds to pay your tax bill when it's due.