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BPP Revision kIt Q 15

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › BPP Revision kIt Q 15

  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by Tax Tutor.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • October 21, 2018 at 3:02 pm #479372
    lachu910
    Member
    • Topics: 28
    • Replies: 38
    • ☆☆

    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).

    October 23, 2018 at 12:15 pm #479548
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    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!

    October 23, 2018 at 2:30 pm #479567
    lachu910
    Member
    • Topics: 28
    • Replies: 38
    • ☆☆

    Hi SIr,
    30th november is part of the question

    October 24, 2018 at 6:45 pm #479685
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    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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