Thursday, Apr 25, 2024

05:40

Corporation Tax Dates

Posted on: Thursday, March 07, 2013

These pieces of information can often represent three or five marks in an exam question.  Every mark is essential in the professional exams so students should identify areas they can pick up valuable marks.


What is the Corporation Tax filing date?

A company must submit a return of profits, chargeable gains and other particulars to the Inspector of Taxes 9 months after the end of the accounting period but no later than the 21st Day of the month (23rd day of the month if filing on ROS).


When is Preliminary Tax due and what percentage is payable?

Preliminary Tax is due and payable on a day 31 days prior to the end of the accounting period but no later than the 21st day of the month in which the day falls (23rd day of the month if filing on ROS).

Preliminary Tax is either:
1. 90% of the current year’s tax liability or
2. 100% of the prior tax year’s liability