EM8015 - Companies: Rights and Obligations: Delivering a Return of CT Profits
TMA70/S108(1)
FA98/SCH18/PARA 3
FA98/SCH18/PARA 14
FA98/SCH18/PARA 20A
A company is required to deliver a company tax return when it has been given a notice. The return is made to the officer who issued the notice.
A company may submit a voluntary return without a notice being given. If this is accepted by HMRC the return is treated as if it was made in response to a notice to file being given to the company on the same day it was delivered.
The duty of filing a return is performed by the secretary, or any officer or agent of the company authorised to perform the duty. The person making the return must make a declaration that the return is to the best of their knowledge correct and complete. Only the company is liable to a penalty for failing to deliver the return.
A company fraudulently or negligently delivering an incorrect return makes the company liable to a penalty, see EM4800+. CH80000+ provides guidance on penalties for deliberately or carelessly giving an inaccurate return or other document where the return relates to a period beginning on or after 1 April 2008 and the filing date for the return is on or after 1 April 2009.
The return (which includes losses and negative amounts)
- is of such information, accounts, statements and reports relevant to the tax liability of the company or the application of CT to the company
- includes the amount of tax due (a self-assessment of the tax payable)
- is to be delivered by a particular date (filing date), usually the last day of 12 months from the end of the period for which the return relates, or, if later, 3 months from the date the notice is given.
A company is liable to a range of penalties where its company tax return is not made and delivered on time EM8016.