What is a CT603?

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What is a CT603?


What is a CT603

A CT603 is a notice issued by HMRC (Her Majesty’s Revenue and Customs) to UK limited companies, requesting the submission of a Corporation Tax Return (CT600). It’s essentially a reminder to file your company’s tax return, specifying the accounting period for which the return is due.

Photo by Oyemike Princewill on Unsplash

Why Do I Receive a CT603?

You’ll typically receive a CT603 notice if your company:

  • Is actively trading: If your company is actively conducting business, you’ll receive a CT603 to file a tax return for the relevant accounting period.
  • Has a permanent establishment or branch in the UK: Even if your company is based outside the UK, you may receive a CT603 if you have a physical presence in the UK.

Important Note: If your company is dormant, you generally won’t receive a CT603 unless you’ve started trading again during the specified period.

https://xactaccountants.co.uk/blog/what-is-a-ct603-form/

What Information is Required in a CT600?

When you file your CT600, you’ll need to provide detailed information about your company’s financial performance, including:

  • Company accounts: This includes your profit and loss account and balance sheet.
  • Corporation tax calculations: These are the mathematical calculations used to determine your corporation tax liability.
  • Corporation tax bill: This is the amount of tax you owe to HMRC.

Penalties for Late Filing

It’s crucial to file your CT600 on time to avoid penalties. Late filing can result in significant financial penalties from HMRC. Therefore, it’s advisable to submit your return well before the deadline.

How to File Your CT600

You can file your CT600 online through HMRC’s online portal. This is the most efficient and recommended method. Alternatively, you can file your return by post.

Seeking Professional Help

If you’re unsure about any aspect of the CT603 process or the CT600 form, consider seeking advice from an accountant or tax advisor. They can help you navigate the complexities of corporation tax and ensure that your return is accurate and timely.

By understanding the CT603 notice and the requirements for filing a CT600, you can maintain compliance with HMRC regulations and avoid potential penalties.



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