We thought it may be worth forwarding the contents of an email recently received from our contacts at HMRC, as it is not clear whether this is being distributed by them more widely.
HMRC introduced boxes 326-328 for the number of associated companies into the CT600 from April 2023 at the re-introduction of small profit rate and marginal relief, and guidance on the completion of these boxes has overlapped with boxes 625 and 630-631. This has caused a significant amount of confusion, which wasn’t helped by an update made to the online guidance in September. It seems HMRC have been incorrectly requesting some of their customers to re-submit CT600 submissions made prior to the updated guidance.
We have been on top of this since we received the original drafts of the CT600 and guidance at the beginning of 2023, and raised a number of queries on exactly how these boxes should be completed at the time. We can therefore assure you that ONESOURCE has been completing these CT600 boxes in accordance with the actual HMRC requirements since we first introduced the updated CT600 in April 2023.
The correspondence that HMRC provided was as follows: "HMRC recently updated the CT600 guidance affecting boxes 326, 327, 328, 625, 630 & 631. This was to clarify the correct box to be completed for 51% group companies. We understand this has caused some confusion internally and externally as some customers have been asked by HMRC to resubmit their return.
We have concluded that it would not be necessary for customers to resubmit their CT returns if this was prior to 10 September 2024 (when the guidance was updated) as they have followed the correct guidance at the time of submission.
New returns submitted from 10 September 2024 should be following the current published guidance. This will also apply if a company needs to submit an amended return, they should be following the updated guidance.
We will be issuing internal communications to our teams to advise of the correct procedures, ensuring they are not pursuing a resubmission of the company return.
Apologies for any problems this may have caused you or your users."
Posted Nov 13, 2024 - 09:02 CST
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