»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp tax law rewrite act CTA10 (which applies to accounting periods ending on or after 1 April 2010) removes the requirement that a company should make a claim for what became small profits rate relief, formerly small companiesâ€� relief and marginal small companiesâ€� relief.  »Ê¹ÚÌåÓýapp relief is given as part of the CT self assessment, and this includes a statement of the number (including nil) of companies associated with the claimant company in the relevant accounting period unless the company is an unincorporated association.  »Ê¹ÚÌåÓýapp return form (CT600) makes provision for this.

»Ê¹ÚÌåÓýapp only practical consequences of the removal of formal claim requirement are:

• the absolute time limit for making a claim is replaced by a time limit that may vary according to the circumstances, for example, whether the return is issued or sent back late, and
• error or mistake relief claims become possible under FA98/SCH18/PARA51 if too much tax is paid because of the omission of relief from the return.

Revenue determinations

»Ê¹ÚÌåÓýapp main rate of CT will be charged in Revenue determinations made under FA98/SCH18/PARA36 and PARA37, except at the officer’s discretion if the determination does not exceed £75,000.  When exercising this discretion, officers should consider whether any additional CT will be due.  This will only be the case if there are three or more associated companies.