CTM90180 - Corporation Tax self assessment: Glossary of Terms

Accounting date	The date to which a company prepares its accounts.
Accounting period	The period for which CT is assessed under the Taxes Acts, see CTM01400 onwards.
Filing date	The date by which companies must deliver a company tax return to an officer of Revenue & Customs, see CTM93030.
Flat - rate penalty	A penalty for the late delivery of a return which varies from £100 to £1,000 according to the degree and habit of lateness, see CTM94050.
Joint amended return	An amended return made under the special joint amended return arrangement for group relief claims, see CTM97770.
Late payment interest	Interest charged under TMA70/S87A on payments of CT made after the due and payable date, see CTM92190.
Period of accounts	The period for which accounts are prepared by the company.
Repayment interest	Interest payable under ICTA88/S826 on repayments of CT or IT, or on payments of tax credit made after the due and payable date, see CTM92240.
Return period	The period for which a CT return is required under FA98/SCH18/PARA5, see CTM93020.
Served	A Para 3 notice is deemed to be served on a company on the third working day after it has been posted or one working day if posted first class unless the contrary is proved, see CTM93070.
Specified period	The period which is shown on the notice to deliver a return (form CT603). This will be a period that an officer expects to be a return period, but if the company’s circumstances have changed the return period may be different, see CTM93020.
Para 3 notice	The notice to deliver a return (form CT603) which must be served on a company in order to impose the obligation to deliver a return. See CTM93005 .
Tax-geared penalty	A penalty for the late delivery of a return, which is calculated by reference to tax unpaid. The penalty is charged at 10% or 20% of the tax unpaid according to the degree of lateness, see CTM94060.
Tax unpaid	The amount of CT unpaid, usually 18 months after the end of that accounting period, see CTM94070.