An introduction to corporation tax

Key information about company tax.

At AVASK we can advise companies about all aspects of corporation tax and corporation tax planning. Here is an introduction, but contact us for more advice.

The corporation tax rate is currently 19%.

Self assessment

A company has to estimate its own corporation tax liability and pay this by the due date, which is usually nine months and one day after the end of its accounting period.

A company tax return has to be filed with HMRC within twelve months of the company's year end.

Interest is charged on late payment of corporation tax, and there are also penalties for late filing of a company tax return.

Tax saving tips

Capital gains

Capital gains are taxed at the effective rate of corporation tax (19%). Gains are calculated after deducting from the sale proceeds the market value at March 1982 (or cost of acquisition, if later), costs incurred in improving the asset, an indexation allowance (to account for inflation up to December 2017), and certain disposal costs.

Reducing capital gains


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