CT1 preliminary tax

[diggerbarnes]

Hi all,

I've been sent a CT 1 preliminary tax payslip by Revenue for 2008. The instructions attached state that you can pay 90% of the final liability for 2008 or 100% of the final liability for 2007.

I started the company in April of this year so am I correct in assuming that I can still choose the 2nd option i.e. 100% of the 2007 liability of zero?

Thanks!

 

[papervalue]

Hi all,

I've been sent a CT 1 preliminary tax payslip by Revenue for 2008. The instructions attached state that you can pay 90% of the final liability for 2008 or 100% of the final liability for 2007.

I started the company in April of this year so am I correct in assuming that I can still choose the 2nd option i.e. 100% of the 2007 liability of zero?

Thanks!

Zero would be ok. If you think you profits are going to be high it would be no harm making an payment on account eg estimate 2008 profit 50k*12.5% tax is 6,250.

You would meet you obligations by putting down zero.

 

[diggerbarnes]

Great, thanks for the help.