959AN Obligation to pay preliminary tax.
(1) Every person who is a chargeable person as respects any chargeable period is liable to pay to the Collector-General in accordance with this Chapter the amount of that person’s preliminary tax appropriate to that chargeable period.
(2) The amount of a chargeable person’s preliminary tax appropriate to a chargeable period is the amount of tax which in the opinion of the chargeable person is likely to become payable by that person for the chargeable period by reason of either a self assessment under Chapter 4 or a Revenue assessment under Chapter 5.
(3) Any amount of preliminary tax appropriate to a chargeable period which is paid by and not repaid to a chargeable person in any capacity shall, to the extent of the amount of that payment or the extent of the amount of that payment less any amount that has been repaid, be treated as a payment on account of the tax payable by the chargeable person for the chargeable period.
(a) the tax payable by a company for an accounting period does not exceed the relevant limit, and
(b) the accounting period started on the company coming within the charge to corporation tax,
then the preliminary tax appropriate to the accounting period shall be deemed to be nil and neither subsection (3) of section 959AR nor subsection (4) of section 959AS apply as respects that accounting period.
(5) This section does not apply to capital gains tax.