Taxes Management Act 1970 Schedule 3ZC paragraph 5

Application to enter a CT payment plan

Section 5 of Schedule 3ZC sets out the conditions a company must meet in order to apply for a CT payment plan to defer its qualifying corporation tax liability.

• A company liable to qualifying corporation tax for an accounting period may apply to enter a CT payment plan to spread payment of that tax.
• The application must be submitted to HMRC before the end of the 9-month period that begins immediately after the relevant accounting period.
• The application must include all the details that paragraph 7 requires to be specified in the plan.
• Both the timing and content requirements must be satisfied before a CT payment plan can be entered into.