HMRC CorpTax calculations

HMRC CorpTax calculations

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It's fairly common knowledge that, until the HMRC system is able to cope with the tax rate changes for the FY 2006, corporation tax returns for periods of account ending after 31 March 2006 cannot be submitted electronically.
The scheduled date for the completion of the remedial work on the system is, I believe, "October 2006".
It does appear, however, that, local tax offices have not been told about the flaws in the system and are processing CT returns using the system.
Needless to say, in some cases, the tax provision in the accounts does not agree with the HMRC calculations based on the same amount of profits.
Does anyone know if this problem is widespread, or have we just been unlucky with our submissions so far?
Richard Stewart

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Euan's picture
By Euan MacLennan
20th Sep 2006 19:12

Self-Assessment
Corporation tax is based on self-assessment. Assuming you have calculated it correctly, your figure stands unless HMRC launches an enquiry. If they calculate a different amount, ignore it. Hopefully, they will recalculate it when their main CT system is updated, which should be before 1st February when the first CT on a straddling period would be payable.

On second thoughts, they did promise to publish the revised CT600 on their website by the end of August and have paper forms available on their orderline by late September, but neither has happened yet, so don't hold your breath.

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By User deleted
22nd Sep 2006 11:34

It was brought to my attention the other day.
HMRC's recalculation was lower than it should have been as the software could not cope with FA 2006.

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