Finance

Corporation Tax

Limited companies must register for Corporation Tax with HMRC and submit a Company Tax Return by a deadline.

Article

1 min read

All limited companies must:

  • register for Corporation Tax

  • keep proper records and prepare a Company Tax Return to calculate how much Corporation Tax they must pay, and then file it by a deadline

  • Pay the tax electronically, or report if there is nothing due by a deadline

Corporation Tax is payable on profits from:

  • trading

  • investment

  • gains from selling an asset such as property, equipment or shares (these are known as chargeable gains)

There are two rates of Corporation Tax depending on how much profit your company makes - the small profits rate and the main rate.

If your business makes a profit somewhere between the two limits, you may be able to claim Marginal Relief.

If you are working on innovative projects in science and technology, you may be able to claim Corporation Tax Relief for research and development (R&D) costs.

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Find out how to pay Corporation Tax on the GOV.UK website

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