Corporation tax is due on all limited company profits and, for small and medium sized companies, is payable 9 months and 1 day after the end of the accounting period although the return can be filed 12 months after the period end.

If your company has made losses in an accounting period then you may be able to claim some corporation tax back from HM Revenue & Customs.

Losses can occur for many reasons.  Young companies often have significant investment costs which can outweigh the profits for that period and well established business may also have periods where investment in new plant and machinery is necessary.  Any potential repayment of tax can assist cash flow and thus improve future prospects.