(a) twelve months from the end of the period for which the return is made;
(b) if the company’s relevant period of account is not longer than 18 months, twelve months from the end of that period;
(c) if the company’s relevant period of account is longer than 18 months, 30 months from the beginning of that period;
(d) three months from the date on which the notice requiring the return was served.
14(2) In sub-paragraph (1) “relevant period of account” means, in relation to a return for an accounting period, the period of account of the company in which the last day of that accounting period falls.”
“Example 3 (12 months from of the end of a period of account – not lasting more than 18 months)
Company C makes up its accounts for 15 months to 31 March 2019 following a change of accounting date. It has accounting periods ending on 31 December 2018 and 31 March 2019.
A Paragraph 3 notice specifying the period 1 January 2018 to 31 December 2018 is served on 1 April 2019.
The company’s filing date for the return period ended 31 December 2018 is 31 March 2020 (12 months after the accounting date).
Note: This will also be the filing date for the return period ended 31 March 2019 provided that a Paragraph 3 notice for that period is served by 31 December 2018.”
In practice, HMRC’s automated system may issue a penalty notice for not filing the tax return for 31 March 2020.
However, when we appeal against the penalty in writing, HMRC will waive this penalty notice.
Notwithstanding the risk and the possibility of the £100 fine, Avar is of the opinion that the returns not be filed at this moment as there are many considerations upon which we are working on, your company to benefit from (at the unlikely risk of paying £100 fine) with little, no tax bills or minimal tax bills for many years to come, budgeting on similar level of profits and investments as in recent past.
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