CTM92550 - Corporation Tax self-assessment (CTSA): quarterly instalments: identification of large companies

Companies are expected to:

• decide for themselves if they need to make quarterly instalment payments (QIP), and
• take the initiative to make instalment payments.

CTPF ran a check of returns in order to identify 'potential quarterly instalment' cases and issued payslips to them.

CTPF set the 'QIP' signal to 'potential' on the first CTSA accounting period of a company whose latest return showed profits of £1.25m or more (proportionately reduced for a short accounting period and associated companies).

Companies should indicate on the return form (CT600) if they are a QIP case. See CTM92680 for further information on the 'QIP' signal and the On-line Company Tax Manual (COM), business area 'Pursuit' for fuller details.

The computer issues payslips to companies when the 'QIP' signal on the company record is 'potential' or 'yes'. It issues these about a month before the likely due date for an instalment payment they may need to make.

This is a customer service measure and does not affect the principle that the Regulations require the company to act without prior prompting.