On 2 December 2015, the UK HMRC published draft legislation for changes to the installment payment dates for very large companies as announced in the Summer Budget 2015 ({News-2015-07-10/P/2- previous coverage}). Under current rules, large taxpayers (generally those with annual profits exceeding GBP 1.5 million) are required to make quarterly installment payments based on estimated profits with the first payment due in the 7th month of the taxpayer's current accounting period. There is no separate rule for very large companies. Under the new rules, for accounting periods beginning on or after 1 April 2017, companies with annual taxable profits of...