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ACCA Strategic Professional · Advanced Taxation (UK) · Corporation tax: the comprehensive calculation of the corporation tax liability, including overseas aspects

Sigma Ltd has no associated companies and taxable total profits of £1,000,000 for the year ended 31 March 2026, so it is not a large company. Its liability is £250,000. What is the due date for payment?

The due date is 1 January 2027. A company that is not large pays corporation tax nine months and one day after its accounting period ends, so a period ending 31 March 2026 gives 1 January 2027.

  1. A1 January 2027Correct
  2. B31 December 2026
  3. C1 April 2027
  4. D14 October 2026

Explanation

A company that is not large pays nine months and one day after the end of the accounting period. Period end 31 March 2026 plus nine months is 31 December 2026, so the due date is 1 January 2027. 31 December 2026 misses the extra day. 1 April 2027 is twelve months. 14 October 2026 is a quarterly instalment date for large companies.

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