CT Pay and File: assessments: introduction
CT Pay and File was introduced for company APs ending on or after 1 October 1993. CT Self Assessment replaced CT Pay and File for APs ending on or after 1 July 1999. You now need to issue only a small number of CT Pay and File assessments.
For a CT Pay and File AP a company had to
- Pay the CT due for the AP by the due date (Word 49KB) with or without an assessment
- Deliver a return by the filing date (Word 42KB)
The Technical Caseworker then issued an assessment or a loss determination to finalise the liability for the AP (see COM151000).
Assessments had to be made for every case with any income. Technical Caseworkers therefore issued an assessment even if
- Reliefs entirely covered the profit and there was no net liability to tax for the AP
And / or
- They also made a loss determination under S41A TMA 1970 for the same AP
The process for making CT Pay and File assessments was as follows
- A Clerical Caseworker captured the computation of profits and tax payable from the company’s return onto COTAX
- COTAX automatically copied this to the assessing function for use in making an assessment
- A Technical Caseworker screened the return and made a CT Pay and File assessment using the appropriate assessing function
This is the process that you still need to follow if, exceptionally, you receive a return for a CT Pay and File AP.
There are other types of assessments on companies for which you need to make a manual assessment and record the charge on the SAFE IT system. For more information see COM23130.