HM Treasury’s United Kingdom Budget 2005

brought to you courtesy of Grant Thornton

bought to you courtesy of Grant ThorntonDates For Payment Of Tax

Income tax and capital gains tax

Payment due Year of
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
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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