Overhaul of corporation tax payments for companies with £1.5m plus profits

Meg Wilson CTA, tax writer at Croner-i, explains the key payment dates for corporation tax payments for the largest businesses with profits in excess of £1.5m as new rules reducing the payment period are set to come into force from 1 April 2019

From April next year new rules come into force to accelerate the payment dates for companies with annual taxable profits of more than £20m. The required legislation was made in November 2017 and the changes apply to payments in respect of accounting periods beginning on or after 1 April 2019.

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