Taxes Management Act 1970 Schedule 3ZC paragraph 9

The payment method: instalments

Paragraph 9 of Schedule 3ZC sets out how the deferred corporation tax under a CT payment plan is to be paid, specifying a six-instalment schedule spread over six years.

• Deferred tax under a CT payment plan is paid in six equal instalments.
• The first instalment falls due on the first day after the nine-month period that begins immediately after the end of the relevant accounting period.
• The remaining five instalments are each due on successive anniversaries of that first instalment date.
• Certain circumstances can trigger early payment of all or part of the outstanding balance outside the normal instalment schedule.