{"id":10498,"date":"2023-08-24T12:57:52","date_gmt":"2023-08-24T11:57:52","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=10498"},"modified":"2024-04-13T08:56:52","modified_gmt":"2024-04-13T07:56:52","slug":"preparing-a-company-tax-return","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/preparing-a-company-tax-return\/","title":{"rendered":"Preparing a Company Tax Return – a simple guide"},"content":{"rendered":"
Preparing a Company Tax Return is a statutory requirement of any company that is active for Corporation Tax. As the director of a limited company, it is your legal duty to ensure that your company files a tax return with HMRC once a year by the given deadline, along with full annual accounts and Corporation Tax calculations.<\/p>\n
This guide explains how to prepare and deliver a Company Tax Return and accounts, the date by which these mandatory filings must reach HMRC, and the penalties imposed if you miss the deadline.<\/p>\n
The purpose of a Company Tax Return is to report your company\u2019s income, profit or loss for Corporation Tax, and how much tax it owes for its most recent accounting period.<\/p>\n
If your company is trading (or receiving any other form of income) and registered for Corporation Tax, you are legally required to prepare a tax return every year. The due date is 12 months after the end of your company\u2019s accounting period for Corporation Tax.<\/p>\n
With limited exceptions, you must submit your Company Tax Return (form CT600) using HMRC\u2019s online service. To do so, you will require:<\/p>\n
If you are filing your accounts with Companies House at the same time, you will also need your Companies House password and authentication code<\/a>. You should have received these details when you\u00a0set up your company<\/p>\n You may only file your tax return by post using the paper CT600 form<\/a> in the following situations:<\/p>\n If you need to file on paper, you must complete and send\u00a0form WT1\u00a0with your Company Tax Return to explain why you are doing so.<\/p>\n Form CT600 is extensive, but it is designed to accommodate every type of company. You will find that many sections are not applicable to your company, in which case you will simply leave them blank or indicate that they do not apply.<\/p>\n Below is a brief overview of some of the main sections of the Company Tax Return that you will most likely need to complete:<\/p>\n Depending on your company\u2019s activities, you may have to complete other sections with details about tax credits, outstanding or overpaid tax, overseas expenditure, and double taxation relief.<\/p>\n HMRC\u2019s official Company Tax Return guide<\/a> provides more information on what you need to include on form CT600.<\/p>\n The deadline for sending a Company Tax Return and accounts to HMRC is 12 months after the end of your accounting period<\/a>\u00a0for Corporation Tax.<\/p>\n Your accounting period is the time covered by the tax return. It must not be longer than 12 months, but it can be shorter. Typically, it corresponds with the financial year covered by the annual accounts.<\/p>\n\t\tFiling a tax return by post<\/h4>\n
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The information you need to include in a Company Tax Return<\/h3>\n
Company information<\/h4>\n
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About this return<\/h4>\n
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Tax calculation<\/h4>\n
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When is my Company Tax Return due?<\/h3>\n