HMRC updates CT600 guidance

The company tax return guide has been made clearer


The CT600 guidance 2021 (version 3) in relation to coronavirus support schemes and overpayments has been updated following feedback from ACCA and other accountancy bodies. It includes revised wording suggested by the bodies based on members’ feedback and is now hopefully clearer.

HMRC has stated that some 1,900 businesses are being contacted from around 13 October to correct their returns. These returns may have been filed with errors on support and overpayments, possibly caused by the previous poor guidance from HMRC.

Practitioners should refer to the updated guide to ensure that any errors identified are corrected at the earliest opportunity to avoid any penalties.

At the same time, HMRC has also updated its compliance manual on reasonable excuse and practitioners should refer to the revised examples and guidance to see if any penalties can be mitigated.