| Income Tax and Capital Gains Tax – Self-Assessment |
| 31 January in tax year: |
Normally 50% of previous year's income tax,
less tax deducted at source |
| 31 July following tax year: |
Normally 50% of previous year's income tax,
less tax deducted at source |
| Following 31 January: |
Balance of income tax and all CGT |
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| On death: |
Normally 6 months after month of death |
| Lifetime transfer 6 April-30 September: |
30 April in following year |
| Lifetime transfer 1 October-5 April: |
6 months after month of transfer |
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| Corporation Tax |
| Small and medium-sized companies: 9 months after accounting period |
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| Large companies (those paying tax at 28%/30%): Quarterly instalments normally payable in 7th, 10th, 13th, 16th months after the start of the accounting period |
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| Growing companies avoid instalments where profits are £10m or less and the company was not large for the previous year |
© Copyright 12 March 2008, subject to Finance Act 2008. For information only. Always seek professional advice before acting.
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