Company tax returns

By Tolley in association with Jackie Barker of Wells Associates
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The following Owner-Managed Businesses guidance note by Tolley in association with Jackie Barker of Wells Associates provides comprehensive and up to date tax information covering:

  • Company tax returns
  • Corporation tax self-assessment
  • Which form should be used?
  • Accounting periods for corporation tax
  • Company tax calculation
  • Filing deadline
  • Payment of tax
  • Duty to keep records
  • HMRC guidance

This note offers guidance in respect of the administration of company tax returns. If a company or organisation is subject to corporation tax they will have to complete and file a company tax return for each accounting period. A company or organisation must, in the main, file a return even if they have not made any taxable profits during the accounting period. In this guidance note, ‘company’ includes entities which are not strictly companies but are within the charge to corporation tax, eg unincorporated associations. For information on which entities are within the charge to corporation tax, see the Charge to corporation tax guidance note.

A company tax return is made up of the company tax return form (form CT600), together with any supplementary pages and other relevant information. For full details of the documents to accompany a tax return, see the Documents to accompany a company tax return guidance note.

Corporation tax self-assessment

It is the responsibility of the company to assess how much corporation tax is due for each accounting period.

HMRC usually issues a form CT603 shortly after the end of an accounting period. If a notice is not received, HMRC must be notified in writing within 12 months of the end of the period that the company is chargeable. If the company fails to give notice, it is liable to a penalty.

HMRC maintains a record of all companies, called COTAX which is split between live and dormant companies. Notices to file a company tax return are only issued to live companies. However, a periodic review of the dormant companies is undertaken and form CT204 is issued to ask whether the company has traded or received any income during the period under review.

For more information, see CTM93005 onwards.

Which form should be used?

Companies should use the Version 3

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