C1C3C8C9C14C15C15C16F1PART VA Payment of Tax
Pt. 5A modified (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 18 para. 39(2)(a) (with Sch. 18 para. 59(2)); S.I. 1998/3173, art. 2
Pt. 5A applied (with modifications) (E.W.S.) by The Education (Student Loans) (Repayment) Regulations 2009 (S.I. 2009/470), reg. 62(4) (as amended (with application in accordance with reg. 1(2) of the amending S.I.) by S.I. 2010/661, regs. 1(1), 5)
Pt. 5A applied in part (with modifications) by the Social Security Contributions and Benefits Act 1992 (c. 4), s. 11A(1)-(3) (as substituted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para 3)
Pt. 5A applied in part (with modifications) by the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7), s. 11A(1)-(3) (as substituted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para 12)
Pt. 5A applied (with modifications) (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 79(4)
Pts. 4-6 applied (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 9(3)
Pt. 5A applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 11(2)
F2Corporation tax
Ss. 59D, 59DA and cross-heading substituted for s. 59D (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 19 para. 29(2); S.I. 1998/3173, art. 2
C259D General rule as to when corporation tax is due and payable.
1
Corporation tax for an accounting period is due and payable on the day following the expiry of nine months from the end of that period.
2
If the tax payable is then exceeded by the total of any relevant amounts previously paid (as stated in the relevant company tax return), the excess shall be repaid.
3
The tax payable means the amount computed in accordance with F4the first to fourth steps of paragraph 8 of Schedule 18 to the Finance Act 1998.
4
Relevant amounts previously paid means any of the following, so far as relating to the accounting period in question—
a
any amount of corporation tax paid by the company and not repaid;
b
any corporation tax refund surrendered to the company by another group company;
c
any amount by which the sums available for set off under Step 4 of the calculation in paragraph 8 of Schedule 18 to the Finance Act 1998 (amounts set off against overall tax liability) exceeds the amount against which they may be set off under that provision;
d
any amount treated as corporation tax paid in respect of profits of the company F3by virtue of regulations under section 62 of the Finance Act 2004 (deductions from payments to sub-contractors).
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This section has effect subject to section 59E F5and section 357YQ of CTA 2010 (assessment of tax chargeable on restitution interest).
Pt. 5A inserted (with effect in accordance with s. 199(2)(3) of the amending Act) by Finance Act 1994 (c. 9), s. 192 (with s. 198(1)); S.I. 1998/3173, art. 2