TaxCorporate TaxBusiness welcomes cancellation of filing date alignment

Business welcomes cancellation of filing date alignment

Advisers relieved as plans to align HMRC and Companies House filing dates is scrapped

Government is to abandon plans to align the
Companies
Act
filing deadline with the corporation tax cut off, and advisers
are ecstatic.

The matter had been opened up for consultation in November 2005, with HM
Revenue & Customs and Companies House calling for the two filing dates to be
aligned.

John
Cullinane
, Deloitte tax partner and
Chartered Institute of
Taxation
president, said the decision to call off the alignment of
the two sets of filings would save businesses from a significant administrative
burden.

‘Business will welcome the proposals. The November 2005 proposal would have
reduced the filing date for company tax returns by three or five months to nine
or seven months.’

‘This would have generated a considerable increase in compliance costs for
large businesses, as essentially, 12 months’ worth of work would have to be
completed in seven months,’ Cullinane said.

Further reading:

Visits HMRC here

Go to Companies House
here

Deadlines overshadow online revamp

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