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HMRC guidance on amending corporation tax returns

HMRC guidance on amending corporation tax returns

Some CT returns may need to be amended following the enactment of Finance (No.2) Act 2017.


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HMRC have published guidance on amending certain corporation tax (CT) returns for accounting periods ending between 8 March and 16 November 2017 that were filed before 16 November 2017. The changes may be needed due to certain amendments to CT legislation that were legislated for in Finance (No.2) Act 2017, but that came into force before the Act received Royal Assent on 16 November.

A CT return will need to be amended if it did not take into account the amended legislation for an accounting period ending after:

  • 8 March 2017 and it contains entries that are affected by assets appropriated to trading stock; or
  • 1 April 2017 and it contains entries that are affected by:
    • Loss reform
    • Corporate interest restrictions;
    • Substantial shareholdings exemption;
    • Offshore property developers; or
    • Restrictions to deductions for employers’ payments into employee benefit schemes.

Do I need to take action?

The measures listed above were first published after Spring Budget 2017 and intended to form part of Finance Act 2017, although their passing as legislation was delayed due to the General Election held over the summer.
Regardless of their actual date of passage, businesses may have already factored the effects of these new pieces of legislation into their CT returns for affected periods, in anticipation of their passing. If you have done so, no amendments to your returns should be needed. However, any returns that do not take account of the effect of the new rules from the dates they take effect, listed above, will need to be amended. If the amendments are not made, HMRC may have cause to open an enquiry.

For further information please contact:

Susan Thom

Wendy Williams 

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