OT21225 - Corporation Tax Ring Fence and Supplementary Charge

Supplementary Charge: Transitional Provisions: Instalment Payments: FA02/s93(2)-(6)

FA02/s93(2) and (3) provide for the instalment payment regulations to be applied separately to the supplementary charge, and that the instalment payment regulations shall apply to the deemed accounting period beginning on 17 April 2002, as if it were an accounting period for the purposes of those regulations.

The dates of instalments under the regulations depend on the start and end of a company's accounting period and, where it is less than twelve months, the number of instalments is reduced proportionately.

For a company drawing up accounts for the twelve months ended 31 December 2002, the effect is that its instalments are due as follows:

There are thus two additional instalment payment dates for the accounting period ended 31 December 2002.

FA02/s93(4) to (6) contain further technical amendments to accommodate the straddling period within the instalment payment regulations.