End of Corporation Tax financial year

[Lewis]

I looked on my HMRC letter. For me

Year end 31/03/08
Need to Pay tax by 01/01/09
Send return 31/03/09

So yes need to pay before send return.

[FarmerPalmer]

I know it doesn't sound right but it is
- you have to pay within 9 months of year end
- but only have to file accounts within 12 months.

That is what it says on my "Notice to deliver a Company Tax Return" from HMRC.

[ittony]

The date for CT is variable depending on the end of your accounting year - and not set in stone unlike personal taxation.

That's what I thought. But this: http://calculators.bizezia.com/calen...xDates2008.pdf says differently.

My original information said it would be nine months after my first accounting period end date that corporation tax would be due and a further three months until the company tax return is due. But that doesn't seem right either. How can the payment calculations be due three months after the payment itself?

[Danbro]

Danbro Accounting Ltd

Hi Tony,

The 31/3/08 date you refer to relates to the due date of the Corporation Tax return, this is due 12 months after your first year of trade. Note that if you have traded for 13 months then you have to prepare 2 CT returns, 1 for the 1st 12 months, due 12 months after the year end and a 2nd CT return for the final 3 months due a month after.

Thanks

Neil

[FarmerPalmer]

The date for CT is variable depending on the end of your accounting year - and not set in stone unlike personal taxation.

Mine is 31st December for CT

[FarmerPalmer]

Ring them and talk to them - there is a number on the letter.
I've found them to be very helpful and understanding in the past.

[ittony]

Just noticed on http://www.taxationweb.co.uk/freetaxtools/bizezia.php that 31st March 2008 was the "End of Corporation Tax financial year" and "Corporation tax return for the year ended 31 March 2007 to be filed by this date to avoid £100 penalty".

My first accounting period end date was in November and I though I had nine months after that to pay corporation tax, so what's this 31st March date all about, and what will happen to me now that I've missed it?

Cheers, T.