Corporation tax – do you need to submit an amended return?

Dec 11, 2017

HMRC have now published guidance on amending certain corporation tax (CT) returns for accounting periods ending between 8 March and 16 November 2017 that were filed before 16 November 2017.  Amended returns may be needed due to changes to corporation tax legislation enacted in the Finance (No.2) Act 2017 which have retrospective effect.

You’ll need to amend CT returns if you filed a return that didn’t take into account the amended legislation for an accounting period ending after:

  • 8 March 2017 and it contains entries that are affected by assets appropriated to trading stock
  • 1 April 2017 and it contains entries that are affected by:
  • loss reform
  • corporate interest restrictions
  • substantial shareholdings exemption
  • offshore property developers
  • restrictions to deductions for employers’ payments into employee benefit schemes