This site uses cookies to improve your browsing experience and analyse use of our website. By clicking ‘I accept’ you agree and consent to our use of cookies. You can find out more about our cookies here. Find out more

corporation tax

What are the rules for Corporation tax with Large and Very Large companies.

A large company with taxable profits between £1.5m and £20m is required to pay Corporation Tax in 4 equal instalments. These instalments are payable in months 7, 10, 13 and 16 following the start of the relevant accounting period. The actual payments are due 6 months and 13 days after the start of the accounting period, then 9 months and 13 days, then 12 months and 13 days and finally 15 months and 13 days after the start of the accounting period.

Making Tax Digital timeline

You will be aware that HMRC is moving forward with their digitisation of taxpayer VAT and Income Tax reporting requirements, under their much publicised Making Tax Digital (MTD) initiative. Below you will find the most recent announcements made by HMRC on this issue.
 

Making Tax Digital timeline

You will be aware that HMRC is moving forward with their digitisation of taxpayer VAT and Income Tax reporting requirements, under their much publicised Making Tax Digital (MTD) initiative. Below you will find the most recent announcements made by HMRC on this issue.
 

Tax-free childcare support expanded

Since 14 February 2018, tax-free childcare has become available to all remaining eligible families: parents whose youngest child is under 12. The new scheme aims to help working parents with the cost of childcare. 

According to government, it is quick and easy to apply, and parents could save thousands of pounds each year. For every £8 parents pay into their childcare account, the government will add an extra £2, up to £2,000 per child per year. HMRC has been gradually rolling out tax-free childcare since April 2017. 

Tax-free childcare support expanded

Since 14 February 2018, tax-free childcare has become available to all remaining eligible families: parents whose youngest child is under 12. The new scheme aims to help working parents with the cost of childcare. 

According to government, it is quick and easy to apply, and parents could save thousands of pounds each year. For every £8 parents pay into their childcare account, the government will add an extra £2, up to £2,000 per child per year. HMRC has been gradually rolling out tax-free childcare since April 2017.