Companies resident in the UK and companies not resident in the UK but carrying on a trade through a permanent establishment, branch or agency in the UK have a legal obligation to file Company Tax Return with HMRC. This obligation is created when HMRC issues a ‘notice to deliver a company tax return’. A company tax return generally includes the completed form CT600 together with all the relevant supplementary pages accompanied by:
1. A copy of the accounts of the company for the period covered by the return, and
2. Computations showing how entries on the return have been calculated from the relevant figures in the accounts.
These form an integral part of the Company Tax Return. For companies not resident in the UK but carrying on a trade through a permanent establishment, branch or agency in the UK (all accounts must be in English) the following must be filed:
1. The trading and profit and loss accounts of the company.
2. The trading and profit and loss accounts of the UK branch or agency covering the period to which the return relates.
3. Balance sheet for the company at the end of the period of account.
4. If prepared, the balance sheet of the UK branch or agency at the same date
5. In any other case, a copy of the accounts, including balance sheet, that the company is required by statute or by its constitution to prepare, covering the period to which the return relates.
HMRC accepts accounts prepared under UK GAAP or IFRS and where applicable, prepared under the relevant SORP. From 1 April 2011, for accounting periods ending on or after 1 April 2010, Company Tax Returns must be filed online. In all cases where a Company Tax Return is filed online, the computations must be in iXBRL format. For most companies and organisations, accounts forming part of the return must also be in iXBRL format, but there are some exceptions. Where accounts are not filed in iXBRL format, they must be filed as a PDF attachment.
