AI Summary of 959AR. Date for payment of corporation tax: companies other than with relevant accounting periods.
This transcript outlines the requirements for preliminary tax payment and tax liability for companies during specified accounting periods. Generally, preliminary tax is due 31 days before the end of an accounting period, with variations depending on specific dates within a month. The document further stipulates obligations regarding tax payments based on prior assessments, particularly concerning the percentages of tax that must be prepaid.
Conditions are established for small companies and those not classified as small, particularly concerning underpayment risks, which lead to the assumption of tax liability on the due date for preliminary tax. Additional stipulations extend the compliance timeline for firms falling within specific criteria, aiming to facilitate tax obligations for businesses.
959AR. Date for payment of corporation tax: companies other than with relevant accounting periods.
(1) Preliminary tax appropriate to an accounting period, other than a relevant accounting period, of a company is due and payable -
(a) subject to paragraph (b), not later than the day (in this paragraph referred to as the 'first-mentioned day') which is 31 days before the day on which the accounting period ends, but where the first-mentioned day is later than day 21 of the month in which it occurs, the preliminary tax shall be due and payable not later than -
(i) day 21 of the month in which that first-mentioned day occurs, or
(ii) where payment of the preliminary tax is made by day 23 of the month in which that first-mentioned day occurs by such electronic means as are required by the Revenue Commissioners, day 23 of the month in which that first-mentioned day occurs,
(b) in a case where the accounting period is less than one month and one day in length, not later than the last day of the accounting period, but where that day is later than day 21 of the month in which it occurs, the preliminary tax is due and payable not later than -
(i) day 21 of the month in which that last day occurs, or