Companies: Rights and Obligations: Penalties for Late Delivery of a CT Return
Notice issued before 31 December 1993
The relevant legislation is at TMA70/S94 (old)
Notice issued on or after 31 December 1993
A company that fails to deliver the return by the filing date is liable to
- a flat-rate penalty of £100, or £200 if the return is not delivered within 3 months after the filing date, increased to £500 and £1,000 respectively for a third successive failure, and
- a fixed percentage tax-related penalty if the return is not delivered within 18 months after the end of the Return Period, or by the filing date if later, of 10% of the tax unpaid, or 20% if not delivered within 2 years.
The Corporation Tax Computer (COTAX) provides support for making penalty determinations and issues notices. Guidance on the law and practice is in the Company Taxation Manual CTM94000+.