HMRC has published a policy paper on the new corporation tax installment payment requirements for very large companies for accounting periods that begin on or after 1 April 2019, that is companies with taxable profits of more than £20 million, will be required to pay CT installments earlier than large companies.
Currently, large companies, that is companies with taxable profits of more than £1.5 million in an accounting period, are required to pay CT by installments starting during the period to which the liability relates.
The legislation has been published in Statutory Instrument 2017 No. 1072.
