Budget 2004

Grant Thornton


Miscellaneous

Grant Thornton

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

* Also the final manual filing date for 2003/2004 Self Assessment Tax Return,
however, for electronic filing by internet or ELS different dates apply

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

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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