Different information, accounts, statements and reports may be required from different descriptions of company.

A company tax return must include a declaration by the person making the return that the return is to the best of his knowledge correct and complete.

The return must be delivered to the officer of the Board by whom the notice was issued not later than the filing date.

Sub-paragraph (1)(b) has effect as if the reference to the Corporation Tax Acts included a reference to sections 911 F54and 912 of the Income Tax Act 2007.

Her Majesty's Revenue and Customs may from time to time publish requirements as to the information, accounts, statements and reports which a company must deliver as part of its company tax return where the company has a tax liability by virtue of paragraph 50 or 51 of Schedule 19 to the Finance Act 2011 (the bank levy); and such information, accounts, statements and reports must be delivered as if the notice to the company under paragraph 3(1) had required them to be delivered (and paragraph 4 is to be read accordingly).

The publication of any requirements under sub-paragraph (1) does not stop a notice under paragraph 3(1) requiring the delivery of any additional information, accounts, statements and reports as part of a company tax return.

A notice requiring a company tax return must specify the period to which the notice relates.

If an accounting period of the company ended during (or at the end of) the specified period, a return is required for that accounting period.

If there is more than one, a separate company tax return is required for each of them.

If sub-paragraph (2) does not apply but an accounting period of the company began during the specified period, a company tax return is required for the part of the specified period before the accounting period began.

If the company was outside the charge to corporation tax for the whole of the specified period, a company tax return is required for the whole of the specified period.

If none of the above provisions applies, no company tax return is required in response to the notice.

A notice requiring a company tax return may be given on or after the self-assessment appointed day in relation to a period beginning before that day.

Where the effect of such a notice is to require a return for an accounting period ending before that day, the provisions of the Tax Acts apply as if it were a notice under section 11 of the M1Taxes Management Act 1970.

The provisions of this Act relating to company tax returns, or amending other provisions of the Tax Acts so as to refer to such returns, do not affect the operation of those Acts in relation to such a notice.

For this purpose a company tax return is regarded as a return for an accounting period if the period is treated in the return as an accounting period and is not longer than twelve months, even though it is not, or may not be, an accounting period.

Terms used in Part 2 of the Finance Act 2022 have the same meaning in this paragraph as in that Part (unless the contrary intention appears).

Terms used in the Energy (Oil and Gas) Profits Levy Act 2022 have the same meaning in this paragraph as in that Act.

The amount of tax payable for an accounting period is calculated as follows.

• First step

  Calculate the corporation tax chargeable on the company’s profits:

  1. 1

     Take the amount of the company’s profits for that period on which corporation tax is chargeable F26(see section 4(1) and (2) of the Corporation Tax Act 2010).

  2. 2

     Apply the rate or rates of corporation tax applicable to the company F49(other than the restitution payments rate).

• Second step

  Then give effect to any reliefs or set-offs available against corporation tax chargeable on profits:

  1. 1

     Any reduction under F55Part 3A or Chapter 3A of Part 8 of the Corporation Tax Act 2010 (marginal relief for companies with small profits).

  2. 1A

     F1Any relief under Part V of Schedule 15 to the Finance Act 2000 (corporate venturing scheme: investment relief).

  3. 1B

     F2Any relief under F27Part 7 of the Corporation Tax Act 2010 (community investment tax relief).

  4. 2

     Any double taxation relief under F24under sections 2 and 6 of TIOPA 2010 or under section 18(1)(b) and (2) of that Act.

  5. 3

     Any set off for advance corporation tax under section 239 of F25the Taxes Act 1988 or under regulations made under section 32 of this Act.

• Third step

  Then add any amounts assessable or chargeable as if they were corporation tax (reduced by any reliefs specific to those amounts):

  1. 1

     Any amount due under F28section 455 F42or 464A of the Corporation Tax Act 2010 (tax on a loanF43, advance or benefit to a participator).

  2. 1ZA

     F48Any sum chargeable under section 269DA of that Act (surcharge on banking companies).

  3. 1A

     F3Any sum chargeable under F29section 330(1) of that Act (supplementary charge in respect of ring fence trades).

  4. 2

     F39Any sum charged at step 5 in section 371BC(1) of the Taxation (International and Other Provisions) Act 2010 (controlled foreign companies).

  5. 3

     F34Any amount of the bank levy chargeable by virtue of paragraph 50 or 51 of Schedule 19 to the Finance Act 2011 (the bank levy).

  6. 4

     F57Any amount of residential property developer tax chargeable by virtue of section 33 of the Finance Act 2022.

  7. 5

     F59Any amount chargeable by virtue of section 1 of the Energy (Oil and Gas) Profits Levy Act 2022.

• Fourth step

  Then deduct any amounts to be set off against the company’s overall tax liability for that period:

  1. 1

     Any amount to be set off under F30section 967 or 968 of the Corporation Tax Act 2010 (income tax borne by deduction).

  2. 2

     Any amount to be set off under section 246N or 246Q of F31the Taxes Act 1988 (advance corporation tax paid in respect of foreign income dividend).

• F50Fifth step

  Calculate the corporation tax chargeable on any profits of the company that are charged as restitution interest.

  1. 1

     Find the amount in respect of which the company is chargeable for the period under the charge to corporation tax on income under Part 8C of CTA 2010.

  2. 2

     Apply the restitution payments rate in accordance with section 357YK(1) of that Act.

  The amount of tax payable for the accounting period is the sum of the amounts resulting from the first to fourth steps and this step.

Sub-paragraph (1B) applies if an amount of the bank levy chargeable by virtue of paragraph 50 or 51 of Schedule 19 to the Finance Act 2011 (the bank levy) is added at the third step.

Any deductions made at the fourth step are to be treated as made from all other amounts before being made from the amount of the bank levy.

Except as otherwise provided, references in this Schedule to the amount of tax payable by a company for an accounting period are to the amount shown in the company’s self-assessment as the amount payable.

No claim to which this paragraph applies may be made by a company before it delivers a company tax return for the period to which the claim relates.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

This paragraph applies to a claim by a company for relief under Part V of Schedule 15 to the Finance Act 2000 (corporate venturing scheme: investment relief).

In Part VII of this Schedule (general provisions as to claims and elections) paragraphs 57 to 59 contain provisions as to the circumstances in which a claim or election may or must be made, or is to be treated as having been made, in a company tax return.

A claim to which Part VIII, IX or IXA of this Schedule applies (claims for group relief, capital allowancesF15, first-year tax creditsF45, R&D expenditure credits or F9R&D tax relief) can only be made by being included in a company tax return (see paragraphs 67, 79F16, 83ZA and 83B).

A claim to which Part 9B of this Schedule applies (claims for land remediation tax credit and life assurance company tax credit) can only be made by being included in a company tax return (see paragraph 83H).

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A claim to which Part 9D of this Schedule applies (F47certain claims F60under Parts 14A toF5215E of the Corporation Tax Act 2009) can only be made by being included in a company tax return (see paragraph 83T).

An election under section 1179B of the Corporation Tax Act 2009 (opting into Part 14A of that Act) can only be made by being included in a company tax return.

An election under F21section 1182(7) of the Corporation Tax Act 2009 (election not to be a film production company) can only be made by being included in a company tax return (see F22section 1182(8)(a) of that Act).

An election under section 1216AE(7) of the Corporation Tax Act 2009 (election not to be a television production company) can only be made by being included in a company tax return (see section 1216AE(8)(a) of that Act).

An election under section 1217AB(6) of the Corporation Tax Act 2009 (election not to be a video games development company) can only be made by being included in a company tax return (see section 1217AB(7)(a) of that Act).

A company tax return of a company which carries on a trade, profession or business in partnership must include any amount which in a relevant partnership statement is stated to be its share of any income, loss, consideration, tax, credit or charge.

A “relevant partnership statement” means a statement under section 12AB of the M2Taxes Management Act 1970 for the period for which the return is made or a period which includes that period or any part of it.

In sub-paragraph (1) “relevant period of account” means, in relation to a return for an accounting period, the period of account of the company in which the last day of that accounting period falls.

F7. . .

A company may amend its company tax return by notice to F8an officer of Revenue and Customs.

The notice must be in such form as F8an officer of Revenue and Customs may require.

The notice must contain such information and be accompanied by such statements as F8an officer of Revenue and Customs may reasonably require.

A correction under this paragraph is made by notice to the company concerned.

A company which is required to deliver a company tax return and fails to do so by the filing date is liable to a flat-rate penalty under this paragraph.

It may also be liable to a tax-related penalty under paragraph 18.

The “unpaid tax” means the amount of tax payable by the company for the accounting period for which the return was required which remains unpaid on the date when the liability to the penalty arises under sub-paragraph (1).

“Relevant notice” means a notice under paragraph 3 requiring the company to deliver a return for the relevant period.

Nothing in this paragraph affects paragraph 46 or any other provisions of the Taxes Acts specifying a time limit for the making of an assessment.