HELP CT Return filed but doesnt match up HMRC's AP

HELP CT Return filed but doesnt match up HMRC's AP

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These are company's first accounts

shortened as were longer than 12 month

Correct accounting period is stated at companies house. but HMRC show different first year accounting year end.

I filed companies house accounts - no problem

But I used tax calc to file the tax return for the company -and the accounting period doesn't match with HMRC's records.

Have checked HMRC guidance and they state that accounting period needs to be changed before submitting return via commercial software.

What should I do?? The deadline for the return as per accounts is 31 May.

Am in a queue to speak to an agent with HMRC.

Will the tax return automatically adjust the accounting period?

Replies (6)

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By Michael Beaver
28th May 2015 11:20

To clarify

Need some clarification on your question.

Firstly, did you actually shorten the year at Companies House?  Ordinarily companies will have a long first year.

I lodge a 12 month tax return from the date of incorporation to its first anniversary, then a short (often nil) tax return for the final week or two to bring it to the end of the accounting period that is submitted to companies house.

Sometimes HMRC don't have the correct period recorded either due to changes at Companies House not being reflected, or because they believe the company to be dormant and not trading.

On lodgement of the tax returns as above, HMRC reset the periods of account in their systems so they should line up with your company's year end going forward.

HMRC should not reject your tax return because of the accounting period date, but you need to:

1. Attach the full set of accounts to the first tax return covering that period you are lodging

2. Note on the second tax return that the accounts are attached to a different tax return

3. Make sure you have the whole accounting period covered by the two tax returns so that the tax return period matches the accounting period next year.

Cheers

Michael

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By Phil653
28th May 2015 11:26

Hi

Thanks for your reply

I did shorten them at CH, so they cover 11 months.

Accounts have been prepared on the basis of 11 months. so has Company's tax return. both been submitted yesterday.

Just concerned that accounting period doesn't match up with HMRC's accounting period and don't want return rejected on that basis.

 

 

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Replying to Ben McLintock:
Red Leader
By Red Leader
28th May 2015 11:41

actual dates

I think you need to give us more specifics:

a) full calendar date of company formation

b) full calendar date balance sheet drawn up to

c) full calendar date of balance sheet submited to Companies House - same as b)?

d) HMRC's accounting period - there are usually two for the first set of acccunts due to these usually being >12 months

 

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By Phil653
28th May 2015 12:00

a) 8 June 2013

a) 8 June 2013

b) 31 May 2014

c) same as b

d) 8 June 2014 and 30 June 2014

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Euan's picture
By Euan MacLennan
28th May 2015 12:34

That's odd

If the company was formed on 8 June 2013, I would have expected its default first CT accounting period to end on 7 June 2014.

It seems that no-one has registered the company for CT online and in the process, notified them of the date that trading commenced (which may not have been on the day the company was formed) and the date to which the first accounts would be prepared.  Can you not do that now?

However, I was under the impression that if you just go ahead and file a CT return using commercial software for the period to 31 May 2014, it will overwrite the default periods which HMRC has on its system.

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By Phil653
28th May 2015 12:48

Thanks you for your comments much appreciated

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