CTM92840 - Corporation Tax self assessment: quarterly instalments: non-resident company landlords

FA19/Sch 5/Para 48

From 6 April 2020, non-resident companies receiving UK property income will be chargeable to Corporation Tax instead of Income Tax on this income.

Where a non-resident company is chargeable to Income Tax on its property income immediately before 6 April 2020 and becomes chargeable to Corporation Tax on 6 April 2020, an accounting period for Corporation Tax purposes will commence on 6 April 2020. The instalment payment regulations will not have effect in relation to that accounting period, meaning that no instalment payments will be needed, regardless whether the company is ‘large’ or ‘very large’.

The instalment payment regime will apply as normal to the next and all subsequent accounting periods.