Corporation tax refund for extended 1st year

Accounting
1

1st year of trading, using the Tax Summary report (I know it’s just a guide etc)

1st 12 months says I’ll owe £2,900
the additional 2 weeks to the end of december/year end £-1,500 (roughly)

So will I have to pay the £,2900 still, or will that negative from the 2 weeks tagged on the end get taken into account?

2

Although two CT returns will have to be made to cover the whole period, which will show figures (hopefully) similar to what you are seeing, you will only need to make one payment for the overall liability, so theoretically £1,400.

1 Like
3

@BBK Thank you, much appreciated