At Türner & Co, we offer a complete tax compliance service, including:
We only work with multinational groups that have UK subsidiaries or permanent establishments, so we understand the unique challenges you face.
The default rule is that UK corporation tax is payable 9 months and 1 day after the end of the accounting period.
Examples:
If the period is longer than 12 months, it is split into two tax return periods with separate tax payments.
| Tax Period | Corporation Tax Payment Due |
|---|---|
| 1 Jan 2025 – 31 Dec 2025 | 1 Oct 2026 |
| 1 Jan 2025 – 30 Jun 2025 | 1 Apr 2026 |
Companies are required to pay corporation tax in quarterly instalments if their taxable profits exceed GBP 1.5 million per annum, divided by the number of active associated companies worldwide. These are known as “large companies”.
Instalment Dates (Standard for 12-Month Year):
Example: Year End 31 Dec 2025
A first-year exemption may apply if profits are below GBP 10 million (adjusted for short periods and associated companies).
Companies are considered “very large” if taxable profits exceed GBP 20 million per annum (also reduced by the number of associated companies).
Instalment Dates (Standard for 12-Month Year):
Example: Year End 31 Dec 2025
The GBP 1.5m and GBP 20 million limits for QIPs are divided by the number of active associated companies. For example:
We will help you assess your group structure and determine if your UK company is caught by QIP rules.
Quarterly instalments are especially challenging in the first year they apply, as the company may be paying the tax for the previous year and QIPs for the current year simultaneously. We help you:
Often not. If your UK company was not large in the previous period and taxable profits are below GBP 10 million (adjusted), QIPs can be deferred until the following year.
Each instalment is typically 25% of the estimated annual tax liability, updated if estimates change.
We will assess your group structure and estimated profits and advise accordingly.
Deadlines and thresholds are pro-rated for shorter periods.
HMRC will charge interest on late payments and pay interest on overpayments. We help monitor your position to minimise cost.
Whether you’re preparing your first return or dealing with a growing group structure, our expert team will help you navigate the QIP regime, manage cash flow, and avoid unnecessary penalties. Get in touch to discuss how we can support your UK subsidiary.
Senior Manager
Head of Direct Taxes
Assistant Manager
Management Reporting, Statutory Accounts & Corporate Income Taxes
