To ask Her Majesty's Government what assessment they have made of the impact of the proposed date change to the payment of corporation tax for small businesses on small business cashflow.
27 April 2021
The Government has not announced any changes to the timing of payment of corporation tax for small companies, and has committed not to enact any changes in this Parliament. In March 2021, as part of the Tax Policies and Consultations update, the Government published a Call for Evidence which begins to explore whether the timing and frequency of tax payments are appropriate.
The Government recognises any changes in tax payment timings would have an impact on business cash flow and administration and it would consult extensively on any proposals ahead of implementation.