Corporation Tax – Quarterly Instalment Payments
Under corporation tax self-assessment large companies are required to pay their corporation tax in four quarterly instalment payments. These payments are based on the company’s estimate of its current year tax liability.
Note that the overwhelming majority of companies are not within the quarterly payment regime and pay their corporation tax nine months and one day after the end of their accounting period.
We highlight below the main areas to consider if your company is affected by the quarterly instalments system.