Preliminary CT

ROH2015 · 2016-03-27 20:54:38

What happens if preliminary ct has not been paid for the previous year? Can a CT1 be filed? Could someone explain how Preliminary Corporation Tax works ? Thanks

27-03-2016 08:54PM

#1

ROH2015

Registered Users, Registered Users 2 Posts: 6 ✭

Join Date: August 2015

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What happens if preliminary ct has not been paid for the previous year?

Can a CT1 be filed?

Could someone explain how Preliminary Corporation Tax works ?

Thanks

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Comments

#2 28-03-2016 08:19PM

OttoPilot

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Join Date: November 2013

Posts: 524

Preliminary CT has to be paid by the 23rd of the month before the year end. (Sometimes earlier but depends on the size of the business). It's based on either 100% of the previous years liability or a 90% estimate of this year's (again depends on size).

Interest will be charged daily on the shortfall between the liability you should have paid and what was actually paid. The interest will not be tax deductible.

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