|
Page 31 of 31
Miscellaneous
Dates for Payment of Tax
Income tax and capital gains tax
| Payment due |
Year of
assessment |
Tax liability |
| 31 July 2004 |
2003/2004 |
Second interim payment on account |
| 31 January 2005* |
2003/2004 |
Balance of income tax |
| |
2003/2004 |
Capital gains tax |
| |
2004/2005 |
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
|
30 days from execution of
document
|
| Stamp duty |
30 days from effective date of land transaction |
|
Business Advice