Finance Act, 1988
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Date for payment of tax. |
18.—(1) Preliminary tax appropriate to a relevant chargeable period shall be due and payable— | |
(a) where the chargeable period is a year of assessment, on or before the 1st day of October in that year of assessment, or | ||
(b) where the chargeable period is an accounting period of a company, within the period of 6 months from the end of the accounting period, | ||
and references in this Chapter to the due date for the payment of an amount of preliminary tax shall be construed as references to the 1st day of October in the relevant year of assessment or the last day of that period of 6 months, as the case may be. | ||
(2) Subject to subsection (3), tax specified in an assessment made on a chargeable person for a relevant chargeable period shall be due and payable— | ||
(a) where the assessment is made before the due date for the payment of an amount of preliminary tax for the chargeable period, on or before that date, or | ||
(b) where the assessment is made on or after that date, on the day next after the day on which the assessment is made. | ||
(3) Where, but for this subsection, tax specified in an assessment made on a chargeable person for a relevant chargeable period would be due and payable on the day next after the day on which the assessment is made and— | ||
(a) the chargeable person has defaulted in the payment of preliminary tax for that chargeable period, | ||
(b) the preliminary tax paid by the chargeable person for the chargeable period is less than 90 per cent. of the tax payable by the chargeable person for the chargeable period, or | ||
(c) the preliminary tax payable by the chargeable person for the chargeable period was not paid within one month of the date on which it was due and payable, | ||
the tax specified in the assessment shall be deemed to have been due and payable on the due date for the payment of an amount of preliminary tax for the chargeable period. | ||
(4) Subject to subsection (5), any additional tax due by reason of the amendment of an assessment for a relevant chargeable period shall be deemed to be due and payable on the same day as the tax charged by the assessment prior to its amendment was due and payable: | ||
Provided that if— | ||
(a) the assessment was made after the chargeable person had delivered a return containing a full and true disclosure of all material facts necessary for the making of the assessment, or | ||
(b) the assessment had previously been amended following the delivery of the return containing such disclosure, | ||
the additional tax so due shall be deemed to have been due and payable on the day immediately following the date of the amendment. | ||
(5) The amount by which the tax, found to be payable for a relevant chargeable period on the determination of an appeal against an assessment made on a chargeable person for the chargeable period, is in excess of the amount of the tax for the chargeable period referred to in section 17 (2) (a) (ii) (II) which the chargeable person had paid prior to the making of the appeal, shall be deemed to be due and payable on the same date as the tax charged by the assessment is due and payable: | ||
Provided that— | ||
(a) where the tax which the chargeable person had so paid is not less than 90 per cent. of the tax so found to be payable on the determination of the appeal, and | ||
(b) where the tax charged by the assessment was due and payable in accordance with the provisions of subsection (2), | ||
the said excess shall be deemed to be due and payable on the date of the determination of the appeal. |