CT periods of account on cessation of trade?

CT periods of account on cessation of trade?

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If a company with a "normal" year end of March 2006 ceased trading say August 2005, what period does the CT600 return need making up to?
If August 2005, does this not accelerate the CT600 filing deadline for HMRC and also the due CT payment date?
Many thanks to all for any help on this matter.
RT

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By mjswebster
17th Jul 2006 17:49

You need two returns
There will be 2 returns - one to cessation (Aug 05), and one for the remaining period to the year end (which will be Mar 06, unless you change it, which you still could do).

It won't accelerate the filing date. For BOTH returns this will be 12 months from the end of the period to which accounts are made up, in other words Mar 07. However, in my experience the Revenue almost always get this wrong and incorrectly charge a penalty for the first period, which they then cancel when you send them an appeal. (Point them in the direction of Paragraph 14 Schedule 18 FA 1998, which contains the legislation for the filing deadline.)

However, it will accelerate the payment date, which will be 9 months and a day from the end of each Corporation Tax return period (i.e. May 06 for the period to Aug 05, so already late!)

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