Taxes Management Act 1970 section 59FB

CT payment plans for tax on certain transactions with EEA residents

Section 59FB introduces Schedule 3ZC, which allows companies to defer payment of corporation tax arising from certain transactions with EEA residents by entering into a CT payment plan.

• Companies liable to corporation tax on certain transactions with EEA residents may apply to defer payment
• Deferral is achieved by entering into a formal CT payment plan
• The detailed rules governing CT payment plans are set out in Schedule 3ZC to the Taxes Management Act 1970
• This provision was introduced by Finance Act 2020, Schedule 7, paragraph 1