When is the Tax Return Due?
A corporation tax return must be sent, together with the annual accounts
and tax computations, to the Inland Revenue within twelve months of the
company's year end. If it is not filed within the time limit an automatic
penalty is payable.
When is Tax Due?
Corporation tax is payable within nine months of the year end. If tax
is not paid in time then interest will be charged by the Inland Revenue.
What Other Forms Does the Inland Revenue
Require?
If the company has any paid employees (which includes directors) then
the following forms must be submitted to the Inland Revenue:
1. P35/P14's
- must be completed and submitted by 19 May following the end of the
tax year. A penalty of £100 applies if submitted late and increases
at a rate of £100 for each month or part month that they remain outstanding.
2. P11D
(or other relevant benefit form)
- must be submitted by 6 July following the end of the tax year. A maximum
initial penalty of £300 applies if the form is not submitted on time,
along with a maximum penalty of £60 per day if it remains outstanding.
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