Question re HMRC's CT software

Question re HMRC's CT software

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I've just completed a 2005 corporation tax return for a client using the Revenue's software. Having printed out the pdf of the completed return I note that it produces the 2004 version of the return. Have checked the return again to ensure that I have stipulated the correct dates so I can't understand why this is the case. Have others had this problem or am I missing something vital.

In addition the return in question is reporting a loss. However I cannot seem to get the tax rate in box 45 to read 0%. It has defaulted to 30% and I can't figure out how to change it. Is anybody able to advise me on how to correct this?

Thanks

Juliet.

Juliet Wilson

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By Peter Cane
04th Oct 2006 09:25

CT600
Hi Juliet

1) The 2004 print is correct. This is the version brought in when the NCD rules came in. There wasn't a 2005 print, but there is now a new 2006 print, as the NCD rules have gone out. Wonder what 2008 will bring?

2) Have you claimed the small companies rate on the return? You need to make an entry in box 42 (I believe) to claim the small companies rate. The only other thing I can think of is that the software may think your company is a Close Investment Holding Company.

EDIT: I've reread your question since posting the above, and note that you say the return is reporting a loss. If so, why do you need to adjust the tax rate as no tax would be due anyway? Or are you saying, your comp shows a profit, but the return is incorrectly showing a loss?

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