Knowledge Base - CT600 Corporation Tax Return

CT600 Corporation Tax Return

	CT600: How do I enter a balancing charge/allowance on disposal of a capital allowance asset. The balancing charge is worked out automatically based on your entries. Please refer to the below on how to dispose of an asset. Please note the below behaviour is available from version 12.0.007 and you should update your copy of TaxCalc as required. If you have disposed of an Single Asset...
	14 Feb, 2023 Views: 9036

	Why does the IRmark on a tax return change? What is the IR Mark? The IR Mark is a software generated reference and assists in the creation of the File By Internet Receipt returned by HMRC. It is a mechanism which could potentially be used during investigations, to aid taxpayers and HMRC in ensuring that the submission sent and received...
	04 Jun, 2024 Views: 8546

	Where do I enter dividends paid to shareholders on a CT600? Dividends paid to shareholders aren't included on a CT600. Instead you'd enter them on the shareholders' individual returns, if you're preparing these. A Corporation Tax return consists of three documents: the CT600 a set of statutory financial statements, which discloses the dividends a...
	28 Oct, 2015 Views: 8161

	Error 3318: The period to which the Return's Accounts applies does not coincide with the effective from/to dates of the referenced Accounts Taxonomy. When submitting a CT600 to HMRC you may encounter the following submission error message: This occurs when the iXBRL tagging applied to the accounts does not meet the expected standard. If you are using TaxCalc, please ensure you are running the latest version of the application. For more...
	09 Mar, 2023 Views: 7042

	Delayed response / Return keeps polling when filing to HMRC If you receive a status from HMRC of Delayed Response when attempting to file online, this usually means that HMRC's processing systems are very busy. This won't affect the submission of the return itself but it does mean that the Submission Finished message won't be as prompt as usual. When...
	26 Sep, 2023 Views: 6900

	How do I complete the CT600 for a long period of accounts? (Business users) If your accounts cover a period of more than 12 months, you'll need to complete the CT600 for two periods, as follows: Prepare the accounts for the full period and generate an XBRL version or PDF-with explanation (if required). Apportion the profit/loss into a 12-month period and the remaining...
	21 Mar, 2024 Views: 6605

	How do I enter a Research and Development Expenditure Credit (RDEC) on my CT600? The research and development expenditure credit (RDEC) replaced the large company scheme in April 2016 to continue to encourage investment in R&D. A large company can claim a taxable credit on qualifying R&D expenditure, up to 2 years after the end of the accounting period it relates to. In...
	03 Apr, 2023 Views: 6189

	How do I recover CIS tax deducted on a CT600? Unfortunately, there is no facility to recover CIS tax through the CT600. CIS tax is an employment tax that's deducted from a limited company's gross income and therefore forms part of the PAYE system. Unfortunately, HMRCs systems do not synchronise information and therefore the required entries...
	15 Sep, 2017 Views: 5829

	#7752 – The CRN on the submission does not match the CRN for this Unique Taxpayer Reference HMRC has introduced a validation upon submission to try and reduce the number of submissions where the Company Registration Number (CRN) used in the CT600 and the attached accounts doesn't belong to the submitting company. Submissions that fail the validation will generate the following error...
	16 Mar, 2016 Views: 5657

	How do I print a copy of my return? You can easily print your tax return to a printer or PDF. Please see the below video tutorial for more information. Alternatively, please see the written instructions below: Open the tax return. Click on Check and Finish. Click on Print. Click on Next Step in the HMRC warning message (if...
	08 Nov, 2022 Views: 5526

	How are boxes 326, 327 and 328 populated on a CT600? This article will go through how boxes 326, 327 and 328 are populated on a CT600 return for associated companies. Firstly, you should review HMRC's company tax return guide to confirm if entries are required in these boxes. An extract has been provided below for your convenience: 326 Number of...
	09 Apr, 2024 Views: 5379

	Super Deduction calculations when the period end straddles 1 April 2023 Claiming the super-deduction in a period that straddles 1 April 2023 The rate of the super-deduction will require apportioning if a CT period in which the qualifying expenditure occurs, straddles 1 April 2023. The rate should be apportioned based on days falling prior to 1 April 2023 over the...
	13 Sep, 2023 Views: 5137

	How do I complete a CT600 for a property company? (Practice users) To complete a CT600 for a property company, follow these steps: Open the client in Practice Manager. Go to Company Information. Tick Company is a Property Business (formerly schedule A taxation). Create or open the CT600. Go to Company Type (SimpleStep mode) or Information (HMRC Forms...
	29 Mar, 2022 Views: 4852

	How to complete the entries for notice of consent (CT600C) using V3 Form CT600C Group and Consortium This article covers the V3 form of CT600 If you are completing the group and consortium pages to either claim or surrender losses for group relief, you may have to add a notice of consent form, if there is no simplified arrangement in place. Simplified...
	12 Feb, 2021 Views: 4849

	CT600 how to claim terminal loss relief What is Terminal Loss Relief Where a company has stopped trading and it has made a loss in its final 12 months of its trade the relief is extended as the company can carry back any trading losses that occur in the final 12 months of a trade and set them off against profits made in any or all of...
	21 Mar, 2024 Views: 4600