Finance Act, 1991
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Amendment of section 18 (date for payment of tax) of Finance Act, 1988. |
52.— Section 18 (as amended by section 24 of the Finance Act, 1990 ) of the Finance Act, 1988 , is hereby amended— | |
(a) by the substitution of the following subsection for subsection (1)— | ||
“(1) Preliminary tax appropriate to a relevant chargeable period shall be due and payable— | ||
(a) where the chargeable period is a year of assessment for income tax, on or before the 1st day of November in that year of assessment, | ||
(b) where the chargeable period is a year of assessment for capital gains tax, on or before the 1st day of November next following that year of assessment, or | ||
(c) where the chargeable period is an accounting period of a company, within the period of 7 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, accordingly, be construed as references to the 1st day of November in the relevant year of assessment, the 1st day of November next following that year ofassessment or the last day of that period of 7 months, as the case may be.”, | ||
and | ||
(b) in subsection (3), by the insertion of the following additional proviso after paragraph (II) of the proviso to subparagraph (ii) of paragraph (b): | ||
“Provided also that, for the purpose of this subparagraph, where the chargeable person is chargeable to income tax for a chargeable period being the year of assessment 1991-92 or any subsequent year of assessment, the tax payable for the immediately preceding chargeable period shall be determined without regard to any relief to which the chargeable person is, or may become, entitled for that immediately preceding chargeable period under Chapter III of Part I of the Finance Act, 1984 .”. |