Corporation tax

tyler_d

Can anyone tell me please, when does a business have to pay corporation tax? Is it monthly or yearly and if its yearly is it at the year end (31st dec)?

Makaveli

Preliminary tax (90% of final tax liability) due one month before the company's accounting year-end (subject to 21 day rule).

The balance is due when the tax return is filed. The Corporation Tax Return must be filed 8 months and 21 days after the accounting period ends.

See this for years before 2006.

http://www.revenue.ie/index.htm?/revguide/corporationtax.htm

revenue.ie wrote:

When is Preliminary Corporation Tax due?

• For accounting periods ending after 31/12/05 preliminary tax is payable in one instalment and this amount is payable not later than the 21st day of the month preceding the end of the accounting period.
• For accounting periods ending prior to 31/12/05 preliminary tax is payable in two instalments; the first one month before the accounting year end subject to the 21 day rule, and the second within six months of the end of the accounting period, again subject to the 21 day rule.
• For a company with an accounting period ending on 31st December accordance the chart below illustrates the relevant dates and the amounts payable.

tyler_d

Thanks for that. Very helpful