Tax Installments

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:09AM in AAT student discussion
does anyone know about a company paying its tax in installments. My book mentions it, but gives no details. What would be the tax amount this would start at and how would you calculate the installments?

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Tax Installments

    According to my book "large" companies (ie paying full whack CT at 30%) have to make quarterly payments - on the 14th day of M7, M10, M13 and M16 from the BEGINNING of the accounting period and are estimates based on previous/current info - ie last year made £2m profit = £600,000 CT payable divided by 4 = £150,000 payable quarterly.<BR><BR>Just cribbed this from the book, so hope that not examined on it!<BR><BR>Good luck - hope this is my last one, just the project to finish and then its all over, a life again.<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Tax Installments

    thanks for that.<BR>Ive done PEV today, BTC tomorrow, DFS the PCR and cant wait to finish them all.<BR><BR>If I fail them all, Im going to give up accountancy, lie in a field and eat as much chocolate as possible!<BR>Preferably sponsored by Cadburys!

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