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Hi there, very quick question to clear up my confusion : if a company has a say for EG 15MONTH POA.which ends lets say 31/03/2020, starting 1/1/19..
so if they treated as a small/med size company they will have to make payments 9months and one day for each a/cing period = but as there is two A/cing periods they would have to pay twice, if thats correct one on the 1st october 2020 (9months 1 day after 31/12/19) and the second payment date would be 1/1/21 … is this correct?
And also am i correct in thinking there would only be one SA filing date and not two??? the date being 12months after 31/03/20, so be due to file 31/03/21?
Ii hope this makes sense as it confused me in the kaplan and BPP exam kit questions…
Thank you soo much in advance!!!
Martin
Yes that’s correct – a company must submit a self-assessment corporation tax return within 12 months after the end of the “period of account” but must pay any corporation tax due within nine months and one day after the end of the “accounting period”.
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