Glossary · Financial year 2026
What is Corporation Tax?
Corporation Tax is the tax a UK limited company pays on its taxable profits. For financial year 2026 the rate is 19% on profits up to £50,000, 25% above £250,000 and a rate that rises between them through marginal relief. Payment is due 9 months and 1 day after the accounting period ends; the CT600 return is due 12 months after.
The £50,000 and £250,000 limits are shared between associated companies and reduced for short periods. Companies with profits over £1.5 million pay by quarterly instalments.
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