Preliminary Coporation Tax

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pahadia

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Hi All,
I am a single employee of self managed Ltd. Company. My Annual Date of Return is 01-MAY-2007. I thought that time around I'll be filling co-poration tax return.But I received letter from revenue stating that preliminary coporation tax is due before 01-APR-2007. 1) I havn't clue what is (preliminary coporation tax ) it ? 2) Can I say preliminary coporation tax amount is 0 now and with ADR(in month of may) give revenue whatever is due ?


Many Thanks
Pahadia
 
I presume you have an accountant. Talk to him/her. Preliminary tax is based on either the liability for the current year (which you don't know) or the liability for the previous year (is this your first year?).

If it is your first year, I would make a rough estimate of what you expect the tax to be and pay that. Obviously if it is too much, you will get any excess back.

Your ARD is issued by the Companies Office and is generally not linked to corporation tax, unless you have changed the ARD.
 
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