Corporation tax instalments

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Hi,

Can anyone help me with the following case?

The Company had a profit of £2mln. for the year ended 28.02.2021. It did not exceed £1.5mln threshold for the year 28.02.2020. The company estimated that it will not exceed £1.5mln for the year 28.02.2022 therefore did not make any CT payments during the year. However, the company joined the group in 09.2021. Does it mean that £1.5mln threshold must be divided in order to get threshold for the year ended 28.02.2022 or 28.02.2023?

Thank you for any help! 

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By Domaccounts
21st Feb 2022 09:25

Sorry, forgot to mention that the company became 100% owned by holding company in 09.2021

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By David Ex
21st Feb 2022 12:47

Is this the point?

https://www.gov.uk/hmrc-internal-manuals/company-taxation-manual/ctm92520

“A related 51 per cent group company is ignored if it did not carry on a trade or business during the accounting period, or if it was only a related group company for part of an accounting period ….”

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