CTSA requirements

By Tolley
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The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:

  • CTSA requirements
  • Corporation tax returns
  • Duty to notify chargeability
  • Notice to file a return (CT603)
  • Filing of return
  • Long periods of account
  • Amendments

The Corporation Tax Self Assessment (CTSA) regime deals with all of the administration and payment of corporation tax.

For guidance on payment of corporation tax, see the Payment of corporation tax guidance note.

Corporation tax returns

The CTSA regime also deals with the filing of tax returns (see CT600 ) which must include:

  • details of the income a company has earned
  • a calculation of the corporation tax liability

The submission of the tax calculation is compulsory for companies, unlike individuals who can shift the responsibility for calculating the tax to HMRC, provided they file the return by an earlier date. This facility is not available to companies.

Form CT600 must be filed online and must be accompanied by:

  • a set of signed accounts
  • any other detailed analysis necessary to show that the return is complete and correct and answers all of HMRC’s most obvious questions (usually this takes the form of the tax computation) (CTM93090)

Company tax returns must generally be filed online in formats specified by HMRC. There are exceptions though - for example, insolvent companies are not required to file returns online in any form of formal winding up or administration procedure (see the Administration and liquidation guidance note).

For HMRC’s guidance on the online filing process, see the information published at HMRC: File your annual return or accounts

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