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Budget 2005
Dates For Payment Of Tax
Income tax and capital gains tax
| Payment due | Year of assessment |
Tax liability |
| 31 July 2005 | 2004/2005 | Second interim payment on account |
| 31 January 2006 | 2004/2005 | Balance of income tax |
| 2004/2005 | Capital gains tax | |
| 2005/2006 | First interim payment on account |
Interim payments will normally each equal 50% of the preceding year's total net income tax liability
Inheritance tax
| on transfers 1 October - 5 April or on death | 6 months after end of month in which transfer or death occurs |
| on transfers 6 April - 30 September | 30 April after tax year in which transfer occurs |
Corporation tax
| small and medium-sized companies | 9 months and a day after end of accounting period |
| large companies |
payments on account due on a quarterly basis, commencing 6 months and 14 days from start of accounting period |
| Value added tax |
1 month* after end of return period, or 2 months for annual returns |
| Stamp duty | 30 days from execution of document |
| Stamp duty land tax | 30 days from effective date of land transaction |
* 7 day extension may apply for payments made by electronic means
The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.
This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.
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