fines for late corp tax return.

[Iron Condor]

anyone know the current fine rates for late filing of corporation tax return.

[rmmc]

anyone know the current fine rates for late filing of corporation tax return.

How late is the return?

£100 for upto 3 months £500 if third consecutive late return
£200 for more than 3 months £1,000 if third consecutive late return

There may be tax geared penalty, but it depends, when actually filed and CT paid.

[Iron Condor]

How late is the return?

£100 for upto 3 months £500 if third consecutive late return
£200 for more than 3 months £1,000 if third consecutive late return

There may be tax geared penalty, but it depends, when actually filed and CT paid.

thanks,

it is not late yet but am thinking about filing a couple of months late

i hear CH are charging £175 pounds these days, so total fines are starting to get hefty for persistent late filers.

[rmmc]

For companies house for late filing accounts private company

less than one month £150
1 months to 3 months £375
3 months to 6 months £750
more than 6 months £1,500

If you file by two months late than you are looking at £100 + £375 in penalty!

BTW why do you want to file late?

[Iron Condor]

For companies house for late filing accounts private company

less than one month £150
1 months to 3 months £375
3 months to 6 months £750
more than 6 months £1,500

If you file by two months late than you are looking at £100 + £375 in penalty!

BTW why do you want to file late?

i can file accounts on time with ch, no problems.

i want to file my ct return a bit late, as i am making a loss this year, i am told that you can mention this years loss on last years return to reduce to the ct payment for that year.

the problem is at 9months in you dont know your final loss for the year.. it could go up or down a lot for me in the final three months.

so might just be easier to pay the £200 fine and file 3 months late, as i will know the exact loss then.

[rmmc]

i can file accounts on time with ch, no problems.

i want to file my ct return a bit late, as i am making a loss this year, i am told that you can mention this years loss on last years return to reduce to the ct payment for that year.

OK, so let me clarify the filing dates and payments dates.

CT return is due 12 months from end of chargeable accounting period.

CT payment is due 9 months and 1 day after end of chargeable accounting period.

So, you need to get ready accounts for current year as far as you can in order to assess the profitability.

If you do not pay tax on time you may have to pay interest on it.

I suggest to speak to your tax office regarding delaying the payments

[Iron Condor]

OK, so let me clarify the filing dates and payments dates.

CT return is due 12 months from end of chargeable accounting period.

CT payment is due 9 months and 1 day after end of chargeable accounting period.

So, you need to get ready accounts for current year as far as you can in order to assess the profitability.

If you do not pay tax on time you may have to pay interest on it.

I suggest to speak to your tax office regarding delaying the payments

The return is due 12 months after the period!, i was thinking it was due 9 months in.

it all makes sense now. thanks.

i will pay something at 9 months in and then file the return at 12 months. probably get a £100 fine as it will be a few days late.

then i will have to pay some interest if my estimate for losses at 9 months was off what i eventually end up filing at 12 months.