HMRC Changes in the Filing of COMPANY TAX RETURNS (CT600)

HM Revenue and Customs (HMRC) is changing the way Company Tax Returns are filed in the future.

From 1 April 2011, all Company Tax Returns for accounting periods ending after 31 March 2010 require to be submitted electronically in Inline XBRL (iXBRL) format.

HMRC has advised that online filing will be able either through commercially available software or by using HMRC’s own filing software, for firms with less complex tax affairs.

A company or organisation need not alter its accounting processes to comply with the new system as either HMRC’s filing software or your chosen commercial software will do this for you.

Start thinking about these changes now. Give yourself time to consider the best solution for your needs and time to familiarise yourself with your chosen software. Whether you opt to use HMRC’s filing software or one of the number of commercial products available, you need to plan in good time before your Company Tax Return deadline.

Contact us for advice and assistance.