Taxes Management Act 1970 section 59D

General rule as to when corporation tax is due and payable

Section 59D establishes the general rule for when corporation tax becomes due and payable for an accounting period, including when overpayments must be repaid.

• Corporation tax is due nine months and one day after the end of the accounting period
• If more has already been paid than is owed, the excess must be repaid to the company
• Amounts previously paid include tax paid, group refund surrenders, excess set-off amounts, and construction industry scheme deductions
• Special rules apply for quarterly instalment payments and tax on restitution interest