Corporation tax late filing penalties

Corporation tax late filing penalties

Corporation Tax Late Filing

Your Company Tax Return must be filed within 12 months of the end of your accounting period.

Penalties for late filing are as follows…

  • £100 for up to three months late.
  • A further £100 penalty if you file your return more than three months late.
  • If your Company Tax Return is late for three or more accounting periods in a row, the fixed penalty increases to £500 for both violations.
  • There are additional tax-related penalties of 10% of the unpaid corporation tax where a return is filed between 18 and 24 months after the end of your accounting period and a further 10% where a return is still not filed after 24 months.

Late Payment

Payment of Corporation Tax is due 9 months and a day after the period end, this means that you may end up paying the Corporation Tax before you file your Company Tax Return. Interest is payable on any tax paid late as per the interest rates shown at www.hmrc.gov.uk/rates/interest.htm.

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