Extended ARD

Extended ARD

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Hello

My partner set up a Ltd company in November 2010.

Due to the  business not actually trading until March 2011 an AA01 was filed to extend the ARD to 31/3/2012.

However, although the AA01 has been accepted by Companies House, the site still says that the accounts are due by 12/8/2012.  Surely, this should now be 31/12/2012?

Also, I realise that the Corporation Tax computation will be for a 12 month and a 3 1/2 month period, but should HMRC be informed that an entension has been granted by CH so that they do not chase for a payment in August relating to the first 12 months?

Thank you for your help.

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By Chris Smail
02nd Apr 2012 13:58

Sorry but you are wrong on both counts

The first accounts of a company are due 21 months from the date of formation regardless of the year end chosen.

The first CTAP runs for 12 months from date of commencement of trade. You could try and tell HMRC of new dates but I doubt they would enter them correctly. By the time they start chasing you should be in a position to file and all will be well.

 

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Euan's picture
By Euan MacLennan
02nd Apr 2012 14:52

Agreed

... but just to expand about the Corporation Tax Accounting Periods (CTAPs) and CT Returns.

There is no CTAP and no need to file a CT Return for the period from incorporation on 13 November 2010 to the day before the company started trading in March 2011.

The first CTAP and Return will cover the 12 months from the start of trading on (say) 1st March 2011 to 29th February 2012.  The tax for this year will be due 9 months later on 1st December 2012.

The second CTAP and Return will cover the remaining (say) month up to 31st March 2012, the statutory accounting date, and the tax will be payable on 1st January 2013.

The deadline for submitting both CT returns to HMRC is 31st March 2013, 12 months after the extended accounting date.

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