{"id":721,"date":"2025-01-23T10:45:00","date_gmt":"2025-01-23T10:45:00","guid":{"rendered":"https:\/\/www.experlu.co.uk\/dictionary\/?p=721"},"modified":"2025-03-25T09:21:42","modified_gmt":"2025-03-25T09:21:42","slug":"corporation-tax","status":"publish","type":"post","link":"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/","title":{"rendered":"Corporation tax"},"content":{"rendered":"\n

Corporation tax is a tax applied on a company\u2019s taxable profit.<\/strong><\/p>\n\n\n\n

Taxable profits include profits made by the organisation or association from:<\/p>\n\n\n\n

\u25cf Trading activities
\u25cf Investing activities
\u25cf Any other income generated<\/p>\n\n\n\n

You must maintain accounting records and compute annual profits after any deductions and allowances.<\/p>\n\n\n\n

Who has to pay corporation tax?<\/h2>\n\n\n\n

Corporation tax applies on the following companies:<\/p>\n\n\n\n

\u25cf Companies with UK branch
\u25cf Limited company
\u25cf Club, Co-operative, e.g., sports club, community groups<\/p>\n\n\n\n

When to register for corporation tax?<\/h2>\n\n\n\n

\u25cf Register for corporation tax with the HMRC within three months of incorporation.
\u25cf Usually, it is a simultaneous process when you set up a new company in the UK.<\/p>\n\n\n\n

What do I need to register for corporation tax?<\/h2>\n\n\n\n

To register to pay with HMRC, you need:<\/p>\n\n\n\n

\u25cf Company registration number
\u25cf Trading starting date
\u25cf Financial year-end<\/p>\n\n\n\n

What are submission and payment timelines?<\/h2>\n\n\n\n

\u25cf Nine months and one day to pay the tax<\/p>\n\n\n\n

\u25cf Twelve months to submit a corporation tax return (CT600)<\/p>\n\n\n\n

What happens if I don\u2019t submit a corporation tax return?<\/h2>\n\n\n\n

Penalties apply for late submission of a corporation tax return.<\/p>\n\n\n\n

Delay after deadline<\/span><\/strong><\/td>Penalty<\/span><\/strong><\/td><\/tr>
One day<\/td>\u00a3100  <\/td><\/tr>
Three months<\/td>Additional \u00a3100  <\/td><\/tr>
Six months<\/td>10% of the estimated unpaid tax  <\/td><\/tr>
Twelve months<\/td>Additional 10% of any unpaid tax<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

What happens if I don\u2019t pay corporation tax?<\/h2>\n\n\n\n

There are separate penalties and interest charges for late<\/strong><\/a> payment. HMRC<\/a> has the power to appoint debt collection agencies, take you to court, cease assets, file for bankruptcy, take money from your bank account, wages or pension.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Corporation tax is a tax applied on a company\u2019s taxable profit. Taxable profits include profits made by the organisation or association from: \u25cf Trading activities\u25cf Investing activities\u25cf Any other income generated You must maintain accounting records and compute annual profits after any deductions and allowances. Who has to pay corporation tax? Corporation tax applies on the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[77],"class_list":["post-721","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-corporation-tax"],"yoast_head":"\nCorporation tax - Experlu Dictionary<\/title>\n<meta name=\"description\" content=\"Corporation Tax is a mandatory charge on business profits. Understand rates and tax-saving strategies to keep your company compliant. Get started now!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Corporation tax - Experlu Dictionary\" \/>\n<meta property=\"og:description\" content=\"Corporation Tax is a mandatory charge on business profits. Understand rates and tax-saving strategies to keep your company compliant. Get started now!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"Experlu Dictionary\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-23T10:45:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-25T09:21:42+00:00\" \/>\n<meta name=\"author\" content=\"Experlu Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Experlu Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/\",\"url\":\"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/\",\"name\":\"Corporation tax - Experlu Dictionary\",\"isPartOf\":{\"@id\":\"https:\/\/www.experlu.co.uk\/dictionary\/#website\"},\"datePublished\":\"2025-01-23T10:45:00+00:00\",\"dateModified\":\"2025-03-25T09:21:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.experlu.co.uk\/dictionary\/#\/schema\/person\/99453619ad21037bc151f20b15dd3f65\"},\"description\":\"Corporation Tax is a mandatory charge on business profits. Understand rates and tax-saving strategies to keep your company compliant. Get started now!\",\"breadcrumb\":{\"@id\":\"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.experlu.co.uk\/dictionary\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Corporation tax\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.experlu.co.uk\/dictionary\/#website\",\"url\":\"https:\/\/www.experlu.co.uk\/dictionary\/\",\"name\":\"Experlu Dictionary\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.experlu.co.uk\/dictionary\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.experlu.co.uk\/dictionary\/#\/schema\/person\/99453619ad21037bc151f20b15dd3f65\",\"name\":\"Experlu Admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.experlu.co.uk\/dictionary\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/608c6b42c554f626552cb49dd92abf957a2dae9b6577cca2f3c9db4b300fcaa0?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/608c6b42c554f626552cb49dd92abf957a2dae9b6577cca2f3c9db4b300fcaa0?s=96&d=mm&r=g\",\"caption\":\"Experlu Admin\"},\"url\":\"https:\/\/www.experlu.co.uk\/dictionary\/author\/aarifhabeeb\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Corporation tax - Experlu Dictionary","description":"Corporation Tax is a mandatory charge on business profits. Understand rates and tax-saving strategies to keep your company compliant. Get started now!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/","og_locale":"en_GB","og_type":"article","og_title":"Corporation tax - Experlu Dictionary","og_description":"Corporation Tax is a mandatory charge on business profits. Understand rates and tax-saving strategies to keep your company compliant. Get started now!","og_url":"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/","og_site_name":"Experlu Dictionary","article_published_time":"2025-01-23T10:45:00+00:00","article_modified_time":"2025-03-25T09:21:42+00:00","author":"Experlu Admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Experlu Admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/","url":"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/","name":"Corporation tax - Experlu Dictionary","isPartOf":{"@id":"https:\/\/www.experlu.co.uk\/dictionary\/#website"},"datePublished":"2025-01-23T10:45:00+00:00","dateModified":"2025-03-25T09:21:42+00:00","author":{"@id":"https:\/\/www.experlu.co.uk\/dictionary\/#\/schema\/person\/99453619ad21037bc151f20b15dd3f65"},"description":"Corporation Tax is a mandatory charge on business profits. Understand rates and tax-saving strategies to keep your company compliant. Get started now!","breadcrumb":{"@id":"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.experlu.co.uk\/dictionary\/corporation-tax\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.experlu.co.uk\/dictionary\/"},{"@type":"ListItem","position":2,"name":"Corporation tax"}]},{"@type":"WebSite","@id":"https:\/\/www.experlu.co.uk\/dictionary\/#website","url":"https:\/\/www.experlu.co.uk\/dictionary\/","name":"Experlu Dictionary","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.experlu.co.uk\/dictionary\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.experlu.co.uk\/dictionary\/#\/schema\/person\/99453619ad21037bc151f20b15dd3f65","name":"Experlu Admin","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.experlu.co.uk\/dictionary\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/608c6b42c554f626552cb49dd92abf957a2dae9b6577cca2f3c9db4b300fcaa0?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/608c6b42c554f626552cb49dd92abf957a2dae9b6577cca2f3c9db4b300fcaa0?s=96&d=mm&r=g","caption":"Experlu Admin"},"url":"https:\/\/www.experlu.co.uk\/dictionary\/author\/aarifhabeeb\/"}]}},"_links":{"self":[{"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/posts\/721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/comments?post=721"}],"version-history":[{"count":4,"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/posts\/721\/revisions"}],"predecessor-version":[{"id":1130,"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/posts\/721\/revisions\/1130"}],"wp:attachment":[{"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/media?parent=721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/categories?post=721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.experlu.co.uk\/dictionary\/wp-json\/wp\/v2\/tags?post=721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}