All sizes of company in the UK pay corporation tax at the main rate of 20% (except in the oil and gas sectors).
The main rate will drop to 19% on 1 April 2017 and to 17% on 1 April 2020, making it the lowest rate of corporation tax amongst the G20 countries.
Corporation Tax – Payment dates
Companies with profits over £1.5 million pay corporation tax in quarterly instalments starting in the seventh month of the accounting period. Those companies or groups with profits over £20 million will see the timing of those instalments accelerated by four months, but not until 2019.
