Revenue eBrief No. 191/19
Payment of Preliminary Corporation Tax
Tax and Duty Manual Part 41A-07-02 has been updated to clarify the due dates for preliminary corporation tax for large and small companies, and to confirm that there is no preliminary tax liability in cases where the liability for the current accounting period is nil.
3. Small companies – preliminary tax date and amount
A “small company” is a company whose CT liability does not exceed €200,000 in the previous accounting period (excluding surcharges and income tax due under section239 TCA). Where the previous accounting period is less than 12 months, this €200,000 limit is proportionally reduced. For example, if the previous accounting period was a six-month period, the company would be treated as a “small company” if its CT liability in the previous period was below €100,000.
Small companies make a single payment of preliminary tax. The amount due is either:
- 100% of their CT liability for the previous accounting period
- 90% of their CT liability for the current accounting period.
If the CT liability for the current accounting period is nil, the preliminary tax due is nil.
This single payment of preliminary tax is due on the earlier of:
a) 31 days before the end of the accounting period or
b) The 21st day, or 23rd day for electronic payments, of the month in which theday at a) above falls.