OT21220 - Corporation Tax Ring Fence and Supplementary Charge

Supplementary Charge: Transitional Provisions: Introduction: FA02/s93

The supplementary charge was introduced from 17 April 2002 which, for virtually all companies, falls part way through an accounting period.

There are, therefore, special transitional arrangements for the first year of the supplementary charge. These are found in FA02/s93.

These includes provisions for applying the supplementary charge to the company’s adjusted profits for the period between 17 April 2002 and the date on which the accounting period ends (see OT21221) and for instalment payment arrangements (see OT21225).