Taxes Management Act 1970 section 4

Eligibility to enter a CT payment plan [TMA 1970 Sch 3ZC para 4]

Section 4 sets out which companies are eligible to enter into a CT payment plan and what proportion of their qualifying corporation tax liability the plan may cover.

• A company liable to pay qualifying corporation tax for an accounting period may enter into a CT payment plan under this Schedule.
• The plan may cover all or only part of the qualifying corporation tax due for that accounting period.
• The qualifying corporation tax covered by the plan is referred to as "deferred tax" throughout the Schedule.
• Eligibility depends on the company having a liability for qualifying corporation tax — there is no restriction on whether the plan must cover the full amount.