A quarterly instalment payment system applies to ‘large’ companies under CTSA. For these purposes, ‘large’ companies are companies with profits of more than £1.5m but not more than £20m (for accounting periods beginning before 1 April 2019 there was no upper limit). When considering the limits there are reductions to reflect the number of related 51% group companies and short accounting periods). ‘Profits’ means chargeable profits shown in an assessment (or determination) plus franked investment income (excluding group income).

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