Taxes Management Act 1970 section Schedule 3ZB paragraph 11

The payment method

Section Schedule 3ZB paragraph 11 sets out how the corporation tax due under an exit charge payment plan must be paid, specifying the instalment schedule and timing of payments.

• The ECPP tax is paid in 6 equal instalments spread over a period of approximately 6 years.
• The first instalment falls due on the first day after 9 months from the end of the migration accounting period.
• The remaining 5 instalments are due on each of the first 5 anniversaries of the first instalment date.
• Certain events can trigger early payment of all or part of the outstanding balance outside the normal instalment schedule.