Corporation Tax Return for Micro Companies in Worksop

A Corporation Tax Return is the report a company makes to HMRC covering an accounting period. It sets out the company's income, allowable deductions, any tax adjustments and the resulting taxable profit or loss, so that the Corporation Tax position for that period can be established. For most companies, the return is submitted using HMRC's CT600 form, either through compatible software or HMRC's own online service. A return is generally required for each accounting period, although the exact position depends on whether the company has been trading, is dormant for Corporation Tax purposes or has been told by HMRC that no return is needed.

CT600 is the name of the form HMRC uses for a Company Tax Return. It is not a different tax from Corporation Tax — it is simply the document through which the Corporation Tax Return is delivered to HMRC. A CT600 includes the company's details, the accounting period covered, figures taken from the accounts and any adjustments or claims being made, together with supporting computations and, where relevant, statutory accounts and other schedules. Once prepared, it is submitted to HMRC electronically, and the company receives confirmation that the return has been received.

No. There is no separate micro-entity CT600. A micro company generally deals with Corporation Tax through the same Corporation Tax Return process as any other company, subject to its own circumstances. The term micro-entity relates to the accounting framework a company may use when preparing statutory accounts, and eligibility for that framework depends on the applicable criteria, the accounting period and the company's individual position. Qualifying as a micro-entity does not create a separate Corporation Tax regime or a simplified return for HMRC purposes.

Preparation usually begins with a review of the company's financial information for the accounting period. From there, the work can involve considering the company's accounting profit or loss, identifying the tax adjustments that may be required, such as disallowable expenditure or capital allowances, and determining the taxable profit. The CT600 itself is then completed along with any supporting computations and schedules, and submitted to HMRC. The exact steps depend on the company's circumstances — a straightforward single-director company will usually involve less work than a company with more complex transactions.

They are separate documents with separate purposes and separate recipients. Statutory accounts are prepared for the company's members and are delivered to Companies House where required under the applicable filing requirements. A Corporation Tax Return, such as a CT600, is submitted to HMRC. HMRC does not approve statutory accounts, and Companies House does not review accounts prepared by an accountant in a regulatory or professional approval capacity. Preparing and filing a CT600 does not automatically complete the company's Companies House accounts, confirmation statement or any other filing obligation, and each has its own requirements.

The profit shown in statutory accounts is prepared under accounting rules, while taxable profit is calculated under Corporation Tax rules, and the two do not always match. Common reasons for a difference include expenditure that is disallowed for tax purposes, depreciation being replaced by capital allowances, income that is treated differently for tax, and timing differences where items fall into a different period for tax than for accounts. These adjustments are identified during Corporation Tax Return preparation and reflected in the computations that support the CT600.

These are two separate deadlines. HMRC sets a filing deadline for the Corporation Tax Return and a separate deadline for paying the Corporation Tax due, and they do not always fall on the same date. In practice the payment date can arrive before the return is filed, which is why it is worth planning the accounts and return work well ahead of the period end. Because the exact deadlines depend on the accounting period and the company's circumstances, we confirm the relevant dates with you rather than relying on assumptions, and we recommend checking current HMRC guidance or asking us to confirm the position for your company.

Dormancy for Corporation Tax purposes is not the same as dormancy for Companies House purposes, and the two are assessed separately. A company may be treated as dormant by HMRC and not be required to submit Corporation Tax Returns for a period, while still having Companies House obligations such as filing accounts or a confirmation statement. Equally, a company that is dormant for Companies House purposes may not necessarily be dormant for Corporation Tax. Whether a return is required, and how long that position continues, depends on the company's circumstances, so it is worth confirming before assuming no action is needed.

Yes. Micro Entity Accounts supports eligible micro companies and small limited companies in Worksop with Corporation Tax Return preparation and CT600 filing. Depending on your circumstances, that can include reviewing your records, discussing the adjustments that may apply, preparing the return and computations, and submitting the CT600 to HMRC. We also explain what is being filed and why, so directors can see how the figures in the return connect to the company's accounts. Get in touch to discuss your position and what the work would involve.