UK:
Corporation Tax Payment Dates For Large Corporates – Changes Deferred
To print this article, all you need is to be registered or login on Mondaq.com.
The measure
The introduction of the new rules for companies to make
corporation tax payments in the third, sixth, ninth and twelfth
month of the accounting periods has been deferred by two years.
Who will be affected?
The measure affects UK companies with profits in excess of
£20m (or in the case of corporate groups this profit
threshold is divided by the number of companies in the group).
When?
The new payment schedule will now apply to accounting periods
starting on or after 1 April 2019.
Our view
This measure gives companies further time to prepare for the
changes and will be welcomed by taxpayers.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Tax from UK
All Change For Non-doms
Lubbock Fine
Although there had been speculation in the run up to the Spring Budget that the Chancellor was set to steal Labour's proposals to 'abolish non-dom status', the actual announcements from Jeremy Hunt...
Tax – A Shake-Up Looms
Herbert Smith Freehills
Few developments in the tax world have an impact on a truly global scale, but the so-called 'Pillar Two' rules – essentially a global minimum corporate tax – is one of them.
UK Tax Round Up
Proskauer Rose LLP
Welcome to March's edition of our UK Tax Round Up. This month has seen a number of interesting cases covering a range of issues, from the deductibility of costs against employment income...