Policy paper

Draft legislation: Corporation Tax payments

This draft legislation explains changes to Corporation Tax (CT) instalment payments for very large companies.

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These documents are out of date. See the current guidance on Corporation Tax payments for very large companies.

Documents

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It was announced at Budget 2016 that the start date for these changes would be deferred. They will now apply for accounting periods beginning on or after 1 April 2019. This followed the government’s summer budget 2015 announcement CT instalment dates for very large companies would be changing.

Currently, large companies, that is companies with taxable profits of more than £1.5m in an accounting period, are required to pay CT by instalments starting during the period to which the liability relates.

When the changes come into effect, very large companies, that is companies with taxable profits of more than £20m, will be required to pay CT instalments earlier than large companies.

HM Revenue and Customs has published a tax information and impact note.

Published 2 December 2015