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BUDGET 2006
Dates For Payment Of Tax
Income tax and capital gains tax
| Payment due |
Year of
assessment |
Tax liability |
| 31 July 2006 |
2005/2006 |
Second interim payment on account |
| 31 January 2007 |
2005/2006 |
Balance of income tax |
| |
2005/2006 |
Capital gains tax |
| |
2006/2007 |
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 |
Employment taxes
|
| outstanding PAYE and class 1 NICs for the tax year |
19 April following end of tax year |
| monthly PAYE and NIC payroll deductions |
19 of month following end of payroll month |
| class 1A NICs |
19 July following end of tax year |
* 7 day extension may apply for payments made by electronic means
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Business Advice