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IRISH TAXATION 2010 and 2009
   

All land rezoned in the future will be subject to an 80% windfall tax rate. The tax will apply where changes in zoning were made on or after 30 October 2009.

The Revenue has published an updated version of the Income Levy- Frequently Asked Questions publication, which includes material on employer adjustments at the end of the year.

The Revenue have stated that the employer can carry out a year end adjustment and if an employee who has worked for the employer for the entire year (full 52 weeks/12 months) has overpaid then any overpayment of the income levy can be refunded directly to the employee by their employer through normal payroll procedures.

Employees who have not been with the same employer for the entire year will have to claim the overpayment from the Revenue.

Where, as a result of the year end adjustment calculation, an employer finds that the income levy has been under deducted they are not to deduct more income levy. The underpayment will be dealt with by Revenue. The updated publication which includes worked examples can be downloaded by clicking here.

Anglo Irish Bank Shares - Negligible Value Claim: Generally only realised losses are allowable for Capital Gains Tax purposes. However, if the Revenue is satisfied that the value of an asset has become negligible, they will allow the taxpayer to make a negligible value claim whereby the asset is deemed to have been sold and immediately reacquired at market value. This has the effect of realising the loss without actually disposing of the asset.

As a result of the provisions of the Anglo Irish Bank Corporation Act 2009 and the transfer of shares in Anglo Irish Bank to the Minister for Finance, the shares will be treated as of negligible value and a loss for 2009 may be calculated if a negligible value claim is made. This loss may then be set against other capital gains, as appropriate, in arriving at any Capital Gains Tax due for 2009. If unutilised, this loss can be carried forward to future years.

MAIN PERSONAL TAX CREDITS
 
  2009
2010
Personal Tax Credit    
Single Person 1,830 1,830
Married Couple/Single Parent 3,660 3,660
Widow(er) with dependent child after 1st year of bereavement 4,000 4,000
One Parent family 1,830 1,830
Employee (PAYE) (1) 1,830 1,830
Incapacitated Child 3,660 3,660
     
(1) Not available to proprietary Directors and the self employed    
   
Age Credit    
Single/Widowed Person 325 325
Married 650 650
     
Blind Persons Credit    
Married (both spouses blind) 3,660 3,660
Single or married (one spouse blind) 1,830 1,830
     
Home Loans – Standard Rate    

Mortgage interest relief discontinued in respect of any home loan in place over 7 years.

The deduction available for mortgage interest relief against rental income from residential properties is reduced from 100% to 75% with effect from midnight on 7 April 2009.

First Time Buyers

First Time Buyers who are within the first seven years of their mortgage will continue to get the relief automatically until the end of the 7th year of their mortgage.

Non First Time Buyers

With effect from May 01, 2009,  the Revenue said it was working closely with the relevant lenders to identify these accounts and the amount of loan in respect of which TRS (tax relief at source) is payable under the new rules. Where Revenue is in a position to decide with certainty from the information provided by the lender that an account holder is entitled to TRS then this account will be reactivated for TRS by Revenue.

In the case of non First Time Buyer accounts where it is not clear that they are entitled to TRS, and for whom insufficient information is available to determine entitlement Revenue will write to the account holder during the month of May requesting the necessary information.

TRS for Non First Time Buyers who are clearly no longer eligible for TRS, is not payable from 1st May.

A qualifying loan for the purpose of mortgage TRS is a secured loan, used to purchase, repair, develop or improve your sole or main residence, situated in  the State. With effect from 1st May 2009 the number of tax years in respect of which mortgage interest relief may be claimed is 7 years for first time and non first time buyers. You can claim mortgage tax relief in respect of the interest charged/paid on your main residence. You can also claim mortgage tax relief in respect of a mortgage paid by you for your separated/divorced spouse, and a dependent relative (i.e. widowed parent, elderly relative) for whom you are claiming a dependent relative tax credit. However, your mortgage TRS entitlement cannot exceed the maximum TRS allowance.

Switching lender or mortgage type to achieve a better interest rate does not equate to a new loan. However, moving home and taking out a new mortgage for this home with a new or existing lender is eligible for relief for 7 years from the date of first payment on the new home loan.

Qualifying loans taken out before 1 July 2011 will continue to get relief for 7 years. Transitional measures will be provided for qualifying loans taken out between 1 July 2011 and the end of 2013.

Those, whose entitlement to relief would, in the absence of this change, expire in 2010 or after;
will continue to qualify for relief at the applicable rate up until end 2017. Abolition of the relief entirely by the end 2017.

Revenue information

First-Time Buyer - Years 1 and 2 - 25%    
Single Max 2,500 2,500
Married Max 5,000 5,000
Widow(er) Max 5,000 5,000
     
First-Time Buyer - Years 3-5 - 22.5%    
Single Max 2,250 2,250
Married Max 4,500 4,500
Widow(er) Max 4,500 4,500
     
First-Time Buyer - Years 6&7 - 20%    
Single Max 2,000 2,000
Married Max 4,000 4,000
Widow(er) Max 4,000 4,000
     
Non-First Time Buyer    
Single Max 450 450
Married Max 900 900
Widow(er) Max 900 900
     
Rent Relief    
Under 55 - Single 400 400
Under 55 - Married/Widow(er) 800 800
Over 55 - Single 800 800
Over 55 - Married/Widow(er) 1,600 1,600
     
One income Family Credit    
Spouse caring for children, the aged or handicapped 900 900
     

Tax Credit on Trade Union Subscriptions

70 70
Dependent Relative 80 80
     

 

 
INCOME TAX RATES Return to top
   

Single & Widowed Persons: No Dependent Children

2009

2010
20% on first 36,400 36,400
41% on balance    
     
Single & Widowed Persons: Dependent Children    
20% on first 40,400 40,400
41% on balance    
     
Married Couples: One Income    
20% on first 45,400 45,400
41% on balance    
     
Married Couples: Two Incomes*    
20% on first 72,800 72,800
41% on balance    
     
* Excess over € 45,400 non transferable between spouses    
     
Income Levy    
Income Levy - Employees & Directors (01 Jan to 30 April 2009)    
1% on first   100,100
2% on next   150,020
3% on balance    
Income Levy - Employees & Directors (From 30 April 2009)    
2% on first 75,036 75,036
4% 99,944 99,944
6% on incomes over    
Income Levy – Self Employed Individuals (2009 annual rates)    
1.67% on first 75,036  
3% on next 25,064  
3.33% on next 74,880  
4.67% on next 75,140  
5% on balance    
Income Levy – Self Employed Individuals (2010 onwards)    
2% on first   75,036
4% on next   99,944
6% on balance    
Does not apply to welfare payments and  employees earning less than €18,304 or where an individual is aged 65 or over and his or her aggregate income does not exceed €20,000 (€40,000 for married couples) in the tax year. The levy is applied to income before relief for pension contributions and deductions for capital allowances.  The levy is in addition to the Health Contribution Levy  -  - See PRSI section below.    
Tax Allowance    
Cost of employing carer for incapacitated individual allowed at marginal rate of tax 50,000 50,000

Rent-a-Room Relief (private residence)

10,000 10,000
Film Investment 25,400 25,400
BES  Scheme (Business Expansion Scheme) (max relief) 150,000 150,000
 
 
BENEFIT-IN-KIND Return to top
 
Parking levy in urban areas
Ernst & Young says that as announced in the Budget, a parking levy is being introduced that will impose an annual tax cost of €200 on employees that are provided with car parking facilities. The levy applies to parking facilities provided in certain areas of the cities of Dublin, Cork, Waterford, Galway or Limerick. The levy will be collected by employers from employees by reduction of their net salary in the same manner as PAYE. An important point to note is that any reimbursement to the employee of the parking levy by the employer will not be an allowable expense in computing taxable profits.

The levy will be time apportioned for part time employees, but will not be less than €100 per annum. Exemptions are provided for periods such as maternity leave and the 10 weeks preceding maternity leave. Other exemptions include parking spaces provided to disabled drivers, and parking spaces for company provided vans, motorbikes or state cars and for night workers.

The levy will also apply where an employee is not provided with a dedicated parking space. However, it will be reduced to €100 per annum where the ratio of spaces available, relative to the number of employees eligible to use them, is two to one, or greater.

No charge will arise if an employee opts not to use the space. The employee must however advise the employer in writing. Records of the employees that are provided with parking must be kept. The penalty for not imposing the levy or for not keeping adequate records is €3,000. The exact locations where the levy will apply, and its effective date, have yet to be announced.

Benefit-in-kind - company cars
E&Y also says that a new system for calculating the taxable benefit arising from the provision of a company car based on CO2 emissions came into effect from 1 January 2009. It only applies to new cars which are provided after that date. The existing basis of taxation will continue to apply to cars provided to employees prior to 1 January 2009.

Under the new system, the taxable benefit-in-kind will still be calculated as a percentage of the original market value of the car, with reductions for users with high business mileage. However, for new cars provided after 1 January 2009 the percentage charged will vary, depending on the car’s CO2 emissions. Higher percentage charges will apply to vehicles with emission ratings of more than 155g/km. The highest rate will apply to vehicles with emission ratings of more than 225g/km.

Where the higher rates apply the maximum percentage charge will increase from 30 per cent to either 35 or 40 per cent depending on the level of emissions. Cars having emissions in the range 0 to 155g/km will not see any increase in the rate of benefit in kind charged. Typically most cars up to mid sized family saloons will be within the lower band.

The changes will not in general result in any reduction in the level of benefit-in-kind charged on company cars. Existing company car users will not suffer any increase on their current car as a result of the changes. It will however impose an increased charge on less ‘environmentally friendly’ cars which are first provided post 1 January 2009. As such, the changes are likely to act more as a disincentive to provide such cars, rather than as an incentive to provide greener ones.

Employers are likely to be unhappy with the additional complexity and administration the system will impose on them, with two parallel systems in operation for the foreseeable future and up to 15 different rates of BIK applicable.

Cars allocated before Jan 01, 2009
Cash equivalent – 30% of original market value. BIK is calculated on 30% of the open market value of the car with a deduction for amounts borne by the employee in respect of the car costs. The percentage which is now applied to the open market value of the company car will be determined based only on business mileage as follows:
Cycle to Work Scheme
Subject to certain conditions, an employer can provide cycling and related safety equipment to an employee, up to a maximum value of €1,000 per employee, without applying PAYE and PRSI to that benefit.
Business Mileage  % of OMV
15,000 or less 30.0%
   
15,001-20,000 24.0%
   
20,001-25,000 18.0%
   
25,001-30,000 12.0%
   
Over 30,000 6%

Private Use of Employer Van

The charge to BIK for the private use of an employer’s van is calculated at 5% of the ‘original market value’ of the van with effect from 1 January 2004.

   
Preferential Loans  
   
Specified rate for home loans  5.0% 
Specified rate for other loans 12% 

From 1 January 2004 employers are obliged to operate PAYE on non cash benefits provided to employees. These benefits are also liable to PRSI and Health Levy.

The main areas of benefit involved are as follows:

• Company cars.

• Company loans.

• Tax paid vouchers.

• Expense payments on behalf of employees/directors.

Small Benefits in Kind

An employer can provide an employee with a small benefit to a value not exceeding €250 without applying PAYE and PRSI to that benefit.

DIRT

Deposit interest retention tax (DIRT) is increased from 23% to 25% on standard deposit accounts and from 26% to 28% on certain savings accounts, life assurance policies and investment funds, with effect from midnight on 7th April 2009

   
PRSI Return to top
 
 

Contribution
Rate

Earnings
Ceiling 2009 €

Earnings
Ceiling 2010 €

Social Insurance      
Employer Class A1      
Employer Contribution (including training fund levy)    

10.75% (1)

No Ceiling

No Ceiling


Employee

Earning over € 356 per week or equivalent)  

Class A1
     
PRSI

(First €127 of weekly earnings exempt)

4%(2)(3)

75,036

 

75,036

 

Health Contribution

    4% (4)(5)

75,036

No Ceiling

 

       
       

As from 1 January 2009, the employee weekly threshold for liability to PRSI is €352.

 
Self Employed Contributions      
PRSI

   3%(6)

No Ceiling

No Ceiling
Health Contribution

    4% (4)(5)

No Ceiling

No Ceiling
Total

7%

   
 
(1) 8.5% where weekly earnings are not more than €356
(2) For those earning over €352 per week or equivalent
(3) First €127 of weekly earnings exempt
(4) No health levy for earners where income is not more than €500 per week.
(5) Rate increases to 2.5% for earners where income exceeds €1,925 per week.
(6) 3% subject to minimum payment of €254
   
CORPORATION TAX Return to top
   
Standard Rate on Trading Income* 12.5% from 1 January 2003
Investment/Rental Income 25%
Manufacturing Rate 10% (only for established qualifying companies)
*Special rates apply to dealings in land  

Small Companies

A small company is a company with a corporation tax liability of less than €200,000 in the
preceding year. Preliminary tax of at least 90% of the liability for the period or 100% of previous year’s liability is due one month (but no later than the 21st day of that month) before the end of the accounting period.

New or start up companies with a Corporation Tax liability of less than €200,000 in their first accounting period will not be required to pay Preliminary Corporation tax. The liability is paid when the return is filed.

Other Companies
In respect of accounting periods commencing after 14th October 2008 preliminary tax is due
in two instalments.

The first instalment will be payable in the sixth month of the accounting period (by the 21st
day of that month) and the amount payable will be 50% of corporation tax liability in the
preceding accounting period of 45% of corporation tax liability for the current accounting
period.

The second instalment will be payable in the eleventh month (by the 21st day of that month)
of the accounting period and the amount payable will bring the total preliminary tax paid to
90% of the corporation tax liability for the current accounting period.

The final balance is payable at the Return filing date i.e. 21st day of the ninth month following
the end of the accounting period.

Start-Up Companies
New start-up companies, which commence trading in 2009 or 2010, will be exempt from tax,
including capital gains, in each of the first three years to the extent that their tax liability in the
year does not exceed €40,000.

   
CAPITAL GAINS TAX Return to top
 
Per Individual  
   
Annual exemption €1,270
   
Rate 25% - - Raised from 22% in April 2009.
   
Retirement Relief exemption limit €750,000
The payment date in respect of disposals in the period January to November was changed in 2009 to mid-December and the tax on disposals in December are now due on the following 31 October.
 DEVELOPMENT LAND  

The special income tax rate of 20% applied to trading profits from dealing in or developing residential development land is discontinued for the 2009 year of assessment and subsequent years. The income arising will now be chargeable to income tax at the individual’s marginal rate of tax. Unless a claim for relief in respect of prior losses relating to dealing in or developing residential land has been made and received by the Revenue Commissioners prior to 7th April 2009, trading losses incurred prior to 2009 will generally only be relievable on a value basis up to a maximum of 20%.

Terminal losses in respect of dealing in or developing residential land will be ring-fenced.

CAPITAL ALLOWANCES Return to top
 

Capital allowances are no longer be available in respect of private hospitals and nursing homes.

  Motor Vehicles(1) Plant & Machinery(1) Industrial Buildings Hotels(2)

 

  Year 1 – 8 Year 1 - 8  

Writing Down Allowance 12.5 % per annum 12.5 % per annum 4% per annum 4% p.a

A revised scheme of capital allowances and leasing expenses for cars used for business purposes is being introduced, under which the allowability of allowances and expenses is linked to the CO2 emission levels of the vehicles.

Intellectual Property Allowances - - see R&D section below.

Motor Vehicles
Maximum allowable capital cost for new and second hand private cars purchased on or
after 1 January 2007 is €24,000.

In respect of motor vehicle purchases on or after 01 July 2008, the allowability of allowances
and expenses are linked to the CO2 emission levels of the vehicles. The vehicle emission
categories are as follows.

Vehicle category CO2 Emissions (CO2g/km)
A 0g/km up to and including 120g/km
B More than 120g/km up to and including 140g/km
C More than 140g/km up to and including 155g/km
D More than 155g/km up to and including 170g/km
E More than 170g/km up to and including 190g/km
F More than 190g/km up to and including 225g/km
G More than 225g/km

The qualifying cost for capital allowance purposes for each category is as follows. In each case,
the specific amount equals the lower of the purchase price of the car or €24,000.
(a) in the case of a vehicle in category A, B or C, an amount equal to the specified amount,
(b) in the case of a vehicle in category D or E, where the retail price of the vehicle at the
time it was made was:
(i) less than or equal to the specified amount, 50% of that price, and
(ii) greater than the specified amount, 50% of the specified amount, and
(c) in the case of a vehicle in category F or G, nil

RESEARCH & DEVELOPMENT CREDIT Return to top
 

General
A credit of up to 25% (20% for periods commencing before 1 January 2009) of a company’s
expenditure on qualifying research and development activity can be offset against a company’s
corporation tax liability.

The method of calculating the relief is on an incremental basis using a base year to determine
the level of incremental expenditure.

The base year is fixed at 2003 until 2013.

Partial relief is also available to companies for the cost of sub-contracting research and
development work to unconnected parties.

Cash Rebates of R&D Tax Credits

For accounting periods commencing on or after 01 January 2009 it is possible to claim a rebate
of excess of any R&D tax credits over the corporation tax liability of a company for the same
accounting period.

The rebate is payable in three installments and is restricted to the greater of the following two
amounts:

  • the aggregate corporation tax paid by the company for the previous 10 accounting
    periods;

or

  • the aggregate Irish payroll tax liabilities of the company for the accounting period in
    question.

The three instalments in which any rebate is to be made will be paid over a period of 33 months
from the end the accounting period in question. The relevant dates and amounts are as follows:

  • 33% of the refund will be payable by 9 months from the end of the accounting period;

  • the next 33% will be payable by 21 months from the end of the accounting period;

  • the remaining 33% will be payable by 33 months from the end of the accounting
    period.

Note that the second and third installment must be offset firstly against any corporation tax
arising in respect of the company’s subsequent and next subsequent accounting period
respectively, with any remaining balance being refundable. A credit of up to 25% (20% for periods commencing before 1 January 2009) of a company’s expenditure on qualifying research and development activity can be offset against a company’s corporation tax liability.

The method of calculating the relief is an incremental one using a base year to determine
the level of incremental expenditure.

The base year is fixed at 2003 until 2013.

Partial relief is also available to companies for the cost of sub-contracting research and
development work to unconnected parties.

There was a new tax relief on capital expenditure incurred in the acquisition of Intellectual Property announced in April 2009.

This new relief along with the increase in the Tax Credit for expenditure on Research and Development from 20% to 25% announced in December 2008, is focused on making Ireland a more attractive destination for companies to locate and develop intellectual property

Intellectual Property Capital Allowances

Capital allowances are available in respect of capital expenditure incurred in relation the
acquisition/internal generation of intellectual property assets on or after 7 May 2009.

The tax deduction allowed is equal to the amount of accounting depreciation or amortisation
charged in the annual financial statements of a company. Alternatively, a company may to elect
to claim the tax deduction over 15 years (7% per annum and 2% in year 15). The 15-year
period applies to all capital expenditure incurred on that asset and the election, if availed of, is
irrevocable.

The definition of IP assets is broad and includes the acquisition of, or the licence to use:

  • patents and registered designs,

  • trademarks and brand names,

  • know-how,

  • domain names, copyrights, service marks and publishing titles,

  • authorisation to sell medicines, a product of any design, formula, process or invention
    (and any rights derived from research into same), and

  • goodwill, to the extent that it directly relates to the assets outlined above.

The tax deduction is only available for utilisation against trading income generated from the
exploitation of the IP assets and is subject to certain other restrictions.

   
PENSIONS
Return to top
 
Contribution level deductible for tax purposes as follows:  
Age %
Up to 30 15
30 to 39 20
40 to 49 25
50 and Over 30
60 and Over 40

30% also applies to individuals with limited earnings span e.g. athletes, entertainers.

There is cap of €150,000 for 2010 (€150,000 for 2009) on the amount of earnings on which
tax relief may be obtained for contributions by individuals to Retirement Annuity Contracts
and Personal Retirement Savings Account. This cap also applies for employee contributions to occupational pensions schemes.

There is a cap on the allowable pension fund limit of €5,418,085 or, if higher, the value of
the fund on the 7 December 2005.

   
VAT >Return to top
 
 
VAT Registration Thresholds:

Supply of taxable goods in Ireland.(1)

(90% of turnover must be from the sale goods for this threshold to apply)

 €75,000 ( €70,000 up to 1 May 2008)

Provision of taxable services in Ireland (1)

 €37,500 ( €35,500 up to 1 May 2008)


Note 1.
These thresholds do not apply to traders established outside Ireland who must register irrespective of turnover.

Note 2.
A registration threshold of €41,000 also applies to certain persons acquiring goods in Ireland from other EU member states (other than new means of transport or goods subject to a duty of excise).

Note 3.
A registration threshold of € 35,000 applies in relation to "Distance Selling" – i.e. persons supplying certain goods to non-taxable persons in Ireland from other EU member states.

Note 4.
A registration threshold of €nil also applies to certain persons acquiring certain services in Ireland from abroad.

     
VAT rates:    

21.0%

This standard rate applies to all supplies not chargeable at other rates.

Examples - Cars, Petrol / Diesel, Telephone services, soft drinks and alcohol, computers and software, consultancy services.

13˝%

 

Heating fuel, electricity, restaurant services, newspapers, hotel and B&B lettings, property and Child Car Seats (with effect from 1 May 2007, please see below)

0%

  Examples - Exports, certain food and drink, oral human medicine, books, children's clothing and footwear.
4.8%   "Flat Rate Addition" 5.2% Examples - Livestock, live greyhounds , hire of horses and the "Flat Rate Addition" .
VAT Exempt Services   Examples - Financial, insurance, educational, training, medical, optical, and dental and passenger transport services.
   
GIFT/INHERITANCE TAX Return to top
 

The capital acquisitions tax rate was increased from 22% to 25% in respect of gifts or inheritances made from midnight on 7 April 2009.

The existing thresholds of €542,544 (Group A: parents to child), €54,254 (Group B: between related persons), and €27,127 (Group C: between non-related persons) were reduced by 20% to €434,000, €43,400 and €21,700 respectively. This reduction applies in respect of gifts or inheritances taken from midnight on 7 April 2009.

  2009
2010
     
Threshold amount Nil Nil
Excess

25% for gifts and inheritances

25% for gifts and inheritances

Thresholds    
Parents to child or minor child of a deceased child/Child to parent*  €434,000  €434,000
Blood relative €43,400  €43,400
Others  €21,700  €21,700
Business/agricultural relief – % reduction in taxable value     90%
 
No gift/inheritance tax is payable between spouses.

Annual gift exemption €3,000 per individual. The base date for aggregation is 5 December 1991.

   
   
CAPITAL DUTY                                                                      (with effect from 2/12/2004 0.5%
 
STAMP DUTY Return to top
 

Life Assurance Policies

A levy on life assurance was introduced in 2009, at the rate of 1% on premiums. This new levy will apply to premiums received by an insurer on or after 1 June 2009.

Non-Life Insurance Policies

The current non-life insurance levy of 2% was increased by 1%. The new rate of 3% has applied to renewals and offers of insurance issued by an insurer on and from midnight on 7 April 2009 where premiums are received by the insurer on or after 1 June 2009.

 

A Stamp Duty “trade-in” scheme has been introduced. Under this scheme no stamp duty is payable by a person who accepts a traded-in property in exchange or part exchange for a new house/apartment. Stamp Duty will apply when the person subsequently sells on the ‘swapped’/traded-in house.

       
Main Rates     %
       
Stocks & Shares     1
       
Land/Commercial Buildings/Goodwill      
       
Consideration      
Up to € 10,000     Exempt
€10,001 - €20,000     1%
€20,001 - €30,000     2%
€30,001 - €40,000     3%
€40,001 - €70,000     4%
€70,001 - €80,000     5%
Over €80,000     6%
       
Residential Property

Consideration

  FirstTime Buyer Other Owner
Occupiers
Investors – New & Second hand Properties
Up to €122,000   Exempt Exempt Exempt
NEXT €875,000   Exempt 7% 7%
BALANCE   Exempt 9% 9%
   
DEADLINES Return to top
 

Capital Gains Tax:
 
Disposals made between 1 December 2009 & 31 December 2009 31 January 2010
Disposals made between 1 January 2010 & 30 November 2010 15 December 2010
Disposals made between 1 December 2010 & 31 December 2010 31 January 2011
   
Income Tax:  
Preliminary Income Tax Payment for 2010 31 October 2010
Pay Balance of Tax for 2009 31 October 2010
File Personal Tax Return for 2009 31 October 2010
   
Returns  
Individuals – 2009 Disposals 31 October 2010
                  – 2010 Disposals 31 October 2011
   
Corporation Tax:  
Company Tax Payments

Small Companies

1. Choice of 90% of current year liability or 100% of previous year liability due one month before year end (but no later than the 21st day of that month);
2. Balance of tax to be paid on date the Corporation Tax Return is due.

Other Companies

1. Choice of 45% of current year liability or 50% of previous year liability due in sixth month of accounting period (but no later than the 21st day of that month);

2. Payment bringing total preliminary tax up to a minimum of 90% of current year liability due one month before year end (but no later than the 21st day of that month);

3. Balance of tax to be paid on date the Corporation Tax Return is due.

 
Company Tax Returns 21 days of Nine months after year end

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