Page 16 - P6 Slide Taxation - Lecture Day 6 - Provisional Tax Companies Only

Additional tax, interest and penalties

Third provisional tax payment:

 Late payment

 Interest @ prescribed rate of amount not paid for period unpaid (s

89bis(2))

 Underpayment

 Interest @ prescribed rate of amount by which normal tax payable

> actual paid to date (s 89quat(2))

 Overpayment

 Receive interest @ prescribed rate of amount by which normal tax

payable < actual paid to date (s 89quat(3))