COTAX Manual

COM95020 - Payments: quarterly instalment payments: calculating instalment amount due

The amount of tax to be paid at each instalment date is calculated using the formula three multiplied by CTI divided by n.

바카라 사이트˜CTI바카라 사이트™ is the amount of the company바카라 사이트™s total liability for the AP, net of all reliefs and set-offs, that is due to be paid in instalments. See COM95050 for more information.

바카라 사이트˜n바카라 사이트™ is the number of months in the AP, with part months calculated by reference to the number of spare days, divided by 30 and expressed as a decimal to two decimal places, rounded arithmetically.

When the AP is 12 months, the application of the formula results in a quarter of the liability being due at each instalment date. For APs of less than 12 months, the amount payable on each instalment date is the smaller of:

• the amount resulting from the application of the formula
• the amount of CTI that has not been allocated to any earlier instalments.

See the Company Taxation Manual (CTM) at CTM92610 and 92620 for examples of how to calculate CTI and n.

When the 바카라 사이트˜quarterly instalment payer바카라 사이트™ signal is set to 바카라 사이트˜L바카라 사이트™ or 바카라 사이트˜V바카라 사이트™ COTAX does the calculation automatically.