HMRC have published a new guidance on amending certain corporate income tax return for accounting periods ending between 8 March and 16 November 2017 that were filed before 16 November 2017.

This means some Company Tax Returns that included accounting periods ending between 8 March 2017 and 16 November 2017 may be incorrect.

Hence, Company Tax return will need to amend if filed a return before 16 November 2017 that didn’t take into account the amended legislation for an accounting period ending after:

  • 8 March 2017 and it contains entries that are affected by assets appropriated to trading stock
  • 1 April 2017 and it contains entries that are affected by:
    • loss reform
    • corporate interest restrictions
    • substantial shareholdings exemption
    • offshore property developers restrictions to deductions for employers’ payments into employee benefit schemes.