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Basic Tax Requirements for Companies

When is the Tax Return Due?
A corporation tax return must be sent, together with the annual accounts and tax computations, to the Inland Revenue within twelve months of the company's year end. If it is not filed within the time limit an automatic penalty is payable.

When is Tax Due?
Corporation tax is payable within nine months of the year end. If tax is not paid in time then interest will be charged by the Inland Revenue.

What Other Forms Does the Inland Revenue Require?
If the company has any paid employees (which includes directors) then the following forms must be submitted to the Inland Revenue:

1. P35/P14's
- must be completed and submitted by 19 May following the end of the tax year. A penalty of 100 applies if submitted late and increases at a rate of 100 for each month or part month that they remain outstanding.

2. P11D
(or other relevant benefit form)
- must be submitted by 6 July following the end of the tax year. A maximum initial penalty of 300 applies if the form is not submitted on time, along with a maximum penalty of 60 per day if it remains outstanding.

 
 

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2009
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