Corporate income tax reminder

There's a reminder from Treasury's Income Tax Division that corporate income tax returns are due in the first few days of the new year at the latest.

If a corporate taxpayer fails to submit its income tax return by the due date, they may be liable to a £250 late return penalty.

As the Income Tax Division is closed on January 1 and 2, a return that is due to be submitted to the division on New Year's Day will not be considered late, provided the fully completed form is submitted by midnight on January 5.

Opening times for the Income Tax Division over the festive period can be found on the government's website, gov.im.