How many corporation tax returns

by **RAL** on Thu Aug 18, 2011 10:10 am

Incredulum wrote:I suggest a reading of s11 CTA09 which specifies when an accounting period ends.

Do you mean S10? As per Tolleys Yellow book, 2009-10 edition, s11, states

11 Companies with more than one accounting date
(1) This section applies if a company carrying on more than one trade-

by **Incredulum** on Thu Aug 18, 2011 11:12 am

Yes, sorry.

by **PKIB** on Thu Aug 18, 2011 12:41 pm

Incredulum wrote:I suggest a reading of s11 CTA09 which specifies when an accounting period ends.

£10 for you if you can identify a minimum length for an accounting period there (or indeed anywhere else in the legislation).

It's not accounting period defined by the Taxes Acts that specifies a minimum period but the accounting reference date under the Companies Act where there is a minimum six month period but that only applies to the first one. (There is always a max of 18 months)

by **RAL** on Thu Aug 18, 2011 12:56 pm

PKIB wrote:It's not accounting period defined by the Taxes Acts that specifies a minimum period but the accounting reference date under the Companies Act where there is a minimum six month period but that only applies to the first one. (There is always a max of 18 months)

So, I did not make up when I said 6 months minimum length. The book I referred to has an example, there is discussion on shortening the accounting period and it states, "An accounting period may not be less than six months in length, .... shorten the accounting period to dd mmm 2009 (The publication is for tax year 2009/2010, I did not buy for 2010/11).

Is there a change in law in between or requirement? Or could be FRS's? I do not know the answer but I will keep looking to find the answer.

by **Incredulum** on Thu Aug 18, 2011 3:55 pm

RAL wrote:So, I did not make up when I said 6 months minimum length. The book I referred to has an example, there is discussion on shortening the accounting period and it states, "An accounting period may not be less than six months in length, .... shorten the accounting period to dd mmm 2009 (The publication is for tax year 2009/2010, I did not buy for 2010/11).

OK, so your book made it up. It is referring to a period of accounts (i.e. statutory accounts); not an accounting period (i.e. CT returns). A world of difference.

That offer of a tenner still stands. (An accounting period may be as short as one day.)