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).
Ask the Tutor ACCA TX-UK
BPP Revision kIt Q 15
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!
Hi SIr,
30th november is part of the question
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!
Sign into reply to this topic.