CTSA: quarterly instalments: company procedure
Companies that believe that they are, or may be, liable to make quarterly instalment payments should review the position at least at each instalment due date.
- If the company estimate of the total liability indicates that it has paid too little tax on previous instalment due dates it should make a top-up payment.
- If the company estimate indicates that it has paid too much, it can deduct the excess from the current payment.
- If the cumulative payments exceed the cumulative liability, it can claim repayment under Regulation 6. (see CTM92650).
A company can make a top-up payment or a repayment claim at any time.
- Companies can make quarterly instalment payments by any electronic method.
An officer who makes a Revenue determination and considers that the company should pay the tax in quarterly instalments should refer to CTM95370.