Corporation tax return for limited company

Limited company's financial year last for 12 months and it runs from the incorporation date. This means that in most cases the company's financial year does not correlate with general tax year in the UK, which runs from 5th April till 6th April of the following year. Usually, the first financial year is a little bit longer than 12 months exactly as we try to set up the end of it for the last day of particular month. In practice it means that if the company's incorporated date was e.g. 5th September 2017 then the first Year End would be set for 30th September 2018. Accounts for this period needs to be submitted to Companies House no later than 9 months after company incorporation, which is 5 June 2019.

Company's tax, which is called Corporation Tax needs to be paid to HMRC after 9 months and one day from the date of Company's Year End, however Company's Tax Return itself, needs to be submitted to HMRC after 12 months of financial year end.

These different dates and deadlines caused confusion in most cases so that is why it is recommended to have a trustworthy accountant who will look after all these company's tax matters in order to avoid unnecessary penalties.