Problem
Big plc has a year end of 31 December. Its taxable total profits for the year ended 31 December 2020 are £1.4 million and it has no related companies. It also received £0.5 million of exempt dividend income in the year ended 31 December 2020. Its augmented profits for the year ended 31 December 2019 were £1.8 million.
Task
Explain when Big plc must make corporation tax payments for its year ended 31 December 2020, and calculate the amount of tax which should be paid on the due date(s)