If your limited company’s year ended on 31 January 2026, your Corporation Tax bill for that year is due on 1 November 2026. This year 1 November falls on a Sunday, so unless you pay by Faster Payments, HMRC needs the money by Friday 30 October.

Here’s a plain-English checklist for Wigan and North West company directors: what’s due, how to pay it properly, and what paying late costs at today’s HMRC interest rate.

Why 1 November?

Most small and medium-sized companies (with taxable profits of up to £1.5 million) must pay Corporation Tax 9 months and 1 day after the end of their accounting period. For a year ending 31 January 2026, that makes the deadline 1 November 2026.

Paying the tax and filing the return are separate deadlines, which catches a lot of people out:

• Pay Corporation Tax, or tell HMRC you don’t owe any: 9 months and 1 day after your accounting period ends (1 November 2026 for a 31 January year-end)
• File your accounts with Companies House: 9 months after your financial year ends (31 October 2026 for a 31 January year-end)
• File your Company Tax Return: 12 months after your accounting period ends (31 January 2027)

So you’ll usually pay the tax before the return is due, which means finishing your accounts early enough to know the right figure. Our 30 September company deadlines guide walks through the same timetable for December year-ends.

How much Corporation Tax will you owe?

For a year from 1 February 2025 to 31 January 2026, the rates published on GOV.UK were the same across both financial years:

• 19% small profits rate for profits of £50,000 or less
• 25% main rate for profits over £250,000
• Marginal Relief for profits between £50,000 and £250,000, which gives a gradually increasing effective rate

The £50,000 and £250,000 limits are reduced for short accounting periods and if your company has “associated companies” (for example, other companies under the same control). Remember that taxable profit isn’t the same as the profit in your accounts. Things like client entertaining are disallowed, and capital spending is dealt with through capital allowances rather than as an expense. For a refresher, see what limited companies can and cannot claim as business expenses.

How to pay your Corporation Tax correctly

Use the right reference number

You’ll need your 17-character Corporation Tax payment reference. You’ll find it on your “notice to deliver your tax return”, on HMRC reminders, or in your company’s HMRC online account. The reference changes for each accounting period, so don’t reuse last year’s. With the wrong reference, your payment could be delayed or put against a different tax bill.

Allow time for the payment to clear

• Same or next day: approving a payment through your online bank account, Faster Payments, CHAPS, or debit or corporate credit card (there’s a non-refundable fee for corporate cards)
• 3 working days: Bacs, or a Direct Debit if you’ve set one up with HMRC before
• 5 working days: a Direct Debit if it’s your first one with HMRC

You can’t pay Corporation Tax by post. Because 1 November 2026 is a Sunday, HMRC’s rule is that your payment must reach it on the last working day before, which is Friday 30 October. The exception is Faster Payments made through online or telephone banking.

What does paying late cost?

HMRC charges interest on Corporation Tax paid late. Its late payment interest rate is set at Bank of England base rate plus 4% (it was base rate plus 2.5% until 5 April 2025). With base rate at 3.75%, HMRC’s late payment rate has been 7.75% a year since 9 January 2026.

For example, £10,000 of Corporation Tax paid a month late would build up roughly £64 of interest (£10,000 × 7.75% × 30/365). That’s only an illustration, but the cost grows every day and is far higher than most business savings accounts pay. It works the other way too: HMRC pays repayment interest, currently 2.75%, if you pay early.

The Bank of England’s next rate decision is due on 5 November 2026. If base rate changes, HMRC’s interest rates will follow, so check the latest figure before you plan around it.

Late filing is a separate penalty

Interest is only for paying late. Filing late has its own penalties. A Company Tax Return filed 1 day late gets a £200 penalty, with another £200 at 3 months. Accounts filed late at Companies House cost a private company £150 if up to 1 month late, rising to £1,500 if more than 6 months late. That penalty doubles if your accounts are late 2 years in a row.

Can’t pay in full? Talk to HMRC early

If cash is tight, don’t simply leave the bill unpaid. HMRC may agree a payment plan so you can pay in monthly instalments, if it’s satisfied you can afford it. You’ll need details of your company’s income and spending. HMRC expects you to reduce the debt as much as possible first and may ask directors to look at other options, such as putting in personal funds. Interest still runs on anything unpaid. A short cash flow forecast is the best way to see this coming in time.

What about the Budget on 28 October?

The Chancellor has confirmed the Autumn Budget will be on Wednesday 28 October 2026, a few days before this deadline. We won’t guess what it will contain. It doesn’t change the fact that the bill for your year ended 31 January 2026 needs paying on time. Once the announcements are out, we’ll look at anything that affects company owners, such as future tax rates or how you take money from the business, and talk it through with clients.

Your 1 November checklist

1. Make sure your accounts for the year to 31 January 2026 are finished and approved by the directors.
2. Confirm your Corporation Tax figure, including any Marginal Relief and capital allowances.
3. Find this period’s 17-character payment reference.
4. Pay by Friday 30 October, or by Sunday 1 November using Faster Payments.
5. File your accounts with Companies House by 31 October 2026.
6. Diary the Company Tax Return deadline of 31 January 2027, and set money aside for next year’s bill.

Looking further ahead, GOV.UK says that from 1 April 2028 companies must use commercial software to file accounts with Companies House.

How CMA Accountancy can help

We look after limited companies of all sizes across Wigan, Appley Bridge and the wider North West. We prepare year-end accounts, calculate and file your Corporation Tax, and remind you what’s due and when, so 1 November never sneaks up on you. If you’re a director juggling deadlines on your own, see how we support limited companies.

Got a January year-end and not sure your Corporation Tax is sorted? Call Chris and the team on 01257 255521, email [email protected], or find us at 39 Skull House Lane, Appley Bridge, Wigan WN6 9DR. You can also get in touch online.