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In the Question” More Ltd prepares accounts to 30 September each year. HM Revenue & Customs asks submit its corporation tax return for the year to 30 September 2017 on 30 November 2017. The return was submitted on 1 December 2018.
What is the maximum penalty payable by More Ltd ?The answer is £100 penalty for late return paid within 3 months of after due date. My question is how is the payment date in 3 months ( i know £100 is paid for payment within 3 months).
CT return for year ended 30 September 2017 is 30 September 2018 – don’t know where your 30 November 2017 date is coming from – hence if return actually submitted on 1 December 2018 then that is within 3 months of due date!
Then I think you may have slightly misquoted / misunderstood the wording of the question – HMRC, I presume notified the company on 30 November 2017 of their need to submit a CT Return for its year ended 30 September 2017 – that date is irrelevant and the only dates relevant are the ones I quoted in my answer above – HMRC would not say that the return itself had to be submitted on 30 November 2017 because it does not!!
Get used to the idea that in a question the examiner will give you information that is irrelevant to get you to analyse the information provided and use the relevant information to solve the problem!
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