Corporation Tax Act 2009 section 1141

"Payment period"

Section 1141 defines the term "payment period" as used in this Part of the Act, linking it to the monthly cycle for reporting income tax and national insurance contributions.

• A payment period always ends on the 5th day of a month.
• It covers a period during which the company must account for income tax to HMRC.
• It also covers the company's obligation to account for national insurance contributions to HMRC.
• This definition is relevant wherever the term "payment period" appears elsewhere in this Part of the Act.