CTM92820 - CTSA: quarterly instalments: very large companies: due dates: accounting period less than 12 months: examples

Example 1

Accounting period from 1 January 2021 to 28 February 2021.

AP less than 12 months and ends on the last day of the month.

  • final instalment: 14 February 2021 (14 days after the end of the preceding month)

First instalment: no first instalment.

This would have been 14 March 2021, that is 2 months and 13 days after the end of the beginning of the AP. As this ends after the date of the final instalment, the whole liability is payable on the last instalment date.

Example 2

Accounting period from 1 January 2020 to 30 March 2020.

AP is less than 12 months but ends on a date for which there is no corresponding date in the previous month.

  • final instalment: 14 March 2020 (14 days after the end of the previous month)

First instalment: no first instalment.

This would have been 14 March 2020, that is 2 months and 13 days after the beginning of the AP. As this ends on the date of the last instalment, the whole liability is payable on the last instalment date.

Example 3

Accounting period from 1 January 2020 to 14 February 2020.

AP is less than 12 months and ends on a date for which there is a corresponding day in the previous month.

  • final instalment: 28 January 2020 (14 days after the day in the previous month that corresponds to the last day of the AP)

First instalment: no first instalment.

This would have been 14 March 2020, that is 2 months and 13 days after the beginning of the AP. As this ends after the date of the final instalment, the whole liability is payable on the last instalment date.

Example 4

Accounting period from 1 January 2020 to 14 January 2020.

AP is less than 12 months and the last instalment is due before the AP start date.

  • final instalment: 14 January 2020.This would have been 28 December 2019 (i.e. 14 days after the corresponding date in the previous month) but, as this falls before the beginning of the AP, the total liability is payable on the last day of the AP.

Example 5

Accounting period from 1 January 2020 to 30 May 2020.

AP is less than 12 months and ends on a day for which there is a corresponding date in the previous month.

  • final instalment: 14 May 2020 (14 days after the date in the previous month that corresponds with the last day of the AP)
  • first instalment: 14 March 2020 (2 months and 13 days after the beginning of the AP)
  • second instalment: no second instalment. This would have been 3 months after the first instalment (14 June 2020) but, as this is on or after the final instalment date, the liability is payable over 2 instalments.

Example 6

Accounting period from 1 January 2020 to 31 October 2020.

AP is less than 12 months and ends on the last day of the month.

  • final instalment: 14 October 2020 (14 days after the last day of the preceding month)
  • first instalment: 14 March 2020 (2 months and 13 days after the beginning of the AP)
  • second instalment: 14 June 2020 (3 months after the first instalment)
  • third instalment: 14 September 2020 (3 months after the second instalment)