HMRC has reviewed and updated its guidance at CTM92650 in light of the pandemic. This guidance covers early repayments of corporation tax quarterly instalment payments in response to receipt of a number of claims and requests from taxpayers, agents, and professional bodies.

This means that companies can, in exceptional circumstances, make earlier claims for repayment of their instalment payments for an accounting period. Regulation 6 of the Corporation Tax (Instalment Payment) Regulations (SI 1998/3175) allows for companies to make a claim where, due to a change in circumstances, they believe their liability is likely to be less than previously calculated. A revised calculation of that liability may take into account anticipated losses of the current accounting period that has not yet ended. Companies will need to provide full evidence to support these claims.

The updated guidance provides examples of the supporting evidence that would be required to make a claim. The evidential requirements will depend on the particular facts of the claimant companies.