CTM92800 - CTSA: quarterly instalments: very large companies

For accounting periods beginning on or after 1 April 2019, “very large” companies are required to pay CT by instalments 4 months earlier than large companies.

A company is defined as “very large” if its taxable profits are more than £20m in an accounting period.

As with large companies, the threshold is reduced proportionately if the accounting period is less than 12 months, and where the company has one or more associated/related 51% group companies. (See CTM92520)

The £10,000 liability limit referred to in CTM92520 will apply for the purposes of determining if a company is very large. This is modified in the case of a company that pays bank levy.

The period of grace referred to in CTM92530 will not apply in determining if a company is very large. A company will qualify as “very large” in the first accounting period that they exceed the threshold.