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File £nil CT600 with no accounts

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Property development company. 1st year set of accounts, coming up to the 12 month (exended) filing deadline. All items are Balance Sheet & not affecting the CT600 - the CT600 will just have a load of £0s on it.. Accounts haven't been prepared yet as we're waiting for some paperwork from lawyers, CoHo deadline will be extended again.

Is it operationally possible to submit the CT600 without having drawn up accounts? How would we do it?

Thanks

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By Duggimon
21st Aug 2019 12:39

Our software (IRIS) has an option on it to state there are no attached accounts and provide a reason why, so it's clearly possible to file without them and something permitted within the system.

How you go about it in your own software I wouldn't know but there is definitely a box on the CT600 to tick saying there's no accounts.

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RLI
By lionofludesch
21st Aug 2019 14:00

Sure there are no entries ?

Will you be working for nothing ?

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By atleastisoundknowledgable...
21st Aug 2019 14:19

lionofludesch wrote:

Sure there are no entries ?

Yes

lionofludesch wrote:

Will you be working for nothing ?

No - this company is a bulk purchase freebie for my biggest client. I suppose that's a 'yes' really. Or a 'no' if I word it as "included within the fees levied to other companies".

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By Maslins
21st Aug 2019 14:53

Yeah, we do it a lot from Taxcalc with our MVL Online hat on. There's a checkbox saying no accounts are provided, then a drop down for reasons why. In our case (and potentially yours) it's the dormant option.

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By atleastisoundknowledgable...
21st Aug 2019 15:17

thanks

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By PeggyCat
04th Sep 2019 10:39

Apologies for hijacking, I have a similar situation where there are no accounts to attach to a nil CT600.

In this case the CT600 is for a new limited company, covering a short period where they had not yet started trading but had created a source of income by opening a company bank account.

Can anyone advise which option I should give as the reason for no accounts - dormant or not within charge to Corporation Tax?

Many thanks

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By JoF
04th Sep 2019 10:46

Does the act of purely opening a Bank account make it not dormant? Or is it just if that bank account has any entries? I thought the latter, although Ive not checked any legislation.

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By PeggyCat
04th Sep 2019 11:10

CTA 2009 s9 says that an accounting period begins when the company comes within the charge to corporation tax...when it starts to carry on business.

From my recent ATT studies I have been instructed that once an interest bearing bank account is open, the company has started a chargeable accounting period, even if no interest has been earned. This is the first time I've come across this in practice though and would be grateful to hear what others do. In this case, some money was paid into the account, but no interest received in the period.

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Replying to PeggyCat:
RLI
By lionofludesch
04th Sep 2019 11:13

You don't need a CT600.

But you do need accounts to file at Companies House.

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By PeggyCat
04th Sep 2019 11:24

lionofludesch wrote:

You don't need a CT600.

But you do need accounts to file at Companies House.

Thank you, is there somewhere in the legislation or HMRC manuals that I can refer to or is it just a case of what is done in practice? When I questioned this with my tutor they were adamant that a chargeable accounting period begins even if no interest is received, so I took it that if a chargeable period has begun, a CT600 must be filed.

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By lionofludesch
04th Sep 2019 15:06

Do the accounts show any income from bank interest ?

If yes, you need to file CT600.

If no, you don't.

I'm guessing no, as you're claiming the company is "dormant", although I'm beginning to have my doubts about that.

If the company is indeed dormant, how can it possibly have income of any kind ?

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By PeggyCat
04th Sep 2019 15:52

No income from interest, thanks for your comments.

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