Statutory Instrument SI 1998/3175, entitled Corporation Tax (Instalment Payments) Regulations 1998.
7.3 If a company makes profits in excess of £1.5 million but less than £10 million, then it is spared the instalment payments regime for the first year when it is within that range.
7.4 The instalment payments regime has greatly accelerated the cash outflows in respect of corporation tax for larger companies: instead of the tax being payable some 9 months after the year end, the tax is now payable in four quarterly instalments commencing almost 6 months before the year end. The final payment in respect of a year is therefore due 3 months and 14 days after the year end. This has considerably accelerated the dates by which tax computations of such companies have to be finalised.
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