TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Changes to corporation tax instalment rules delayed

HMRC has confirmed that plans to bring forward the date of payment of corporation tax in instalments for companies making taxable profits of £20 million or more have been delayed until April 2019. SI 2017/1072 amends SI 1998/3175 to provide new instalment dates for very large companies from 1 April 2019.

Where the company is a member of one or more 51 percent groups, the £20 million threshold will be divided by the number of related 51 percent group companies plus one.

The Corporation Tax (Instalment Payments) (Amendment) Regulations 2017 amend the Corporation Tax (Instalment Payments) Regulations 1998 (SI 1998/3175) to provide for new instalment dates in respect of very large companies and related matters. The Regulations have effect in relation to accounting periods beginning on or after 1 April 2019.