SCHEDULE 30 Transitional Provisions and Savings
Income and Corporation Taxes Act 1988 (1988 c 1) | Legislation

SCHEDULE 30 Transitional Provisions and Savings

Section 844

Corporation tax payment dates

1

(1)     In this paragraph, an “old company†means a company to which section 244 of the 1970 Act applied in respect of the last accounting period ending before 17th March 1987.

(2)     In relation to an old company—

(a)     “the company's section 244 interval†means the interval after the end of an accounting period of the company which, in accordance with section 244 of the 1970 Act, was the period within which corporation tax assessed for that period was required to be paid; and

(b)     “the period of reduction†means the number of whole days which are comprised in a period equal to one-third of the difference between nine months and the company's section 244 interval.

(3)     Subject to sub-paragraph (6) below, with respect to the first accounting period of an old company beginning on or after 17th March 1987, section 243(4) of the 1970 Act and section 10(1) of this Act (time for payment of corporation tax) shall have effect as if for the reference to nine months there were substituted a reference to a period which is equal to the company's section 244

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