COM95050 - Payments: quarterly instalment payments: instalment due dates


An instalment due date is a date on which a Quarterly Instalment Payment is due and payable. The dates are as follows

For a 12 month AP


Instalment

Instalment due date

First

6 months and 13 days from the start of the AP

Second

3 months from the first instalment due date

Third

3 months from the second instalment due date

Final

3 months and 14 days from the end of the AP

You must determine the due dates for the second and third instalments from the due date for the first and second instalments respectively, not from the start of the AP.

When the first or second instalment is due on the last day of a calendar month the

  • Second or third instalment, as the case may be, is due on the last day of the third following month

When the first or second instalment is due on some other day the

  • Second or third instalment, as the case may be, is due on the correspondingly numbered day in the third following month

When there is no correspondingly numbered day in the third following month the

  • Second or third instalment is due on the last day of the third following month

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For an AP of less than 12 months

The final instalment is due, as normal, 3 months and 14 days from the end of the AP

  • Earlier instalments are due only if the dates for the earlier instalments (as shown above) fall earlier than the date of the final instalment

This means that an AP of

  • 3 months or less, will require only the final instalment
  • Between 3 months and 1 day and 6 months, will require only a first and a final instalment
  • Between 6 months and 1 day and 9 months, will require a first, second and final instalments
  • More than 9 months, will require all four instalments

See the Company Taxation Manual (CTM) at CTM92570 and 92590 for examples of instalment dates for APs of 12 months or less.

Notes:

1.

For Quarterly Instalment Payment cases that end before 01/07/02 there is a transitional period. During this period there is a balance of tax payable on the normal due date.

2.

After the transitional period the final payment due date will be 3 months and 14 days from the AP end date. There will not be a balancing payment at the normal due date.

3.

For all other purposes the normal due date remains unchanged at 9 months and 1 day after the AP end date.

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