- A -
accounts that some smaller and medium-sized companies may prepare and
file for Companies House - if your company files abbreviated accounts at
Companies House, you must still file full statutory accounts as part of
your Company Tax Return.
Accounting PeriodThe period of time used to determine your company or organisation's taxable profit for Corporation Tax.
This normally matches your company or organisation's financial year.
Accounting Reference DateThe term used by Companies House to refer to the last day of your company's financial year - see 'annual report and accounts'.
See 'annual report and accounts'.
ActiveAn active company or organisation is liable for Corporation Tax.
your company or organisation is active for Corporation Tax purposes
when it is, for example, carrying on a business activity, trade or
profession, buying and selling goods with a view to making a profit or
surplus, providing services, earning interest, managing investments or
receiving any other income.
accountant, tax adviser or other professional that you appoint to deal
with HMRC on your behalf for your tax affairs, including Corporation
make an amendment to your Company Tax Return when you make a change to
(amend) your return form or supporting documentation that you have
already filed. HMRC can also make an amendment to your return.
Annual Investment Allowance (AIA)A type of capital allowance.
For accounting periods that end after 31 March 2008 most companies and organisations can claim an AIA.
See 'capital allowances'.
Annual Report and AccountsAlso
known as statutory accounts, financial accounts or audited accounts -
the accounts that limited companies must provide to their members under
the Companies Act and file at Companies House.
You must also submit your company's annual report and accounts to HMRC as part of your Company Tax Return.
If you choose to file abbreviated accounts at Companies House you must still submit the full statutory accounts to HMRC.
your Corporation Tax accounting period doesn't fall wholly within a
single financial year - in other words it starts before and ends after 1
April - and different Corporation Tax rates applied in each, you'll
need to divide or apportion your company or organisation's chargeable
profits between the two financial years on a time basis (in days not
HMRC finds that your company or organisation hasn't paid enough
Corporation Tax because, for example, you understated your taxable
income or overstated your deductions or reliefs, they can make an
assessment of the additional Corporation Tax you must pay.
company is associated with another company if one is under the control
of the other, or if both are under the control of the same person or
Control is usually defined by reference to ownership of share capital or voting power.
A company may be an associated company no matter where it is resident for tax purposes.
Audited AccountsSee 'annual report and accounts'.
authorised by a company to sign the declaration on a Company Tax Return
such as the company secretary, a director, or other officer of the
company, an authorised agent, a liquidator or an administrator if one is