Company Accounts Filing Time Limits to be Tightened

A recent consultation document issued by the Government includes plans to bring forward the filing date for company accounts and corporation tax returns so that both are filed together. Under the proposals, the date for filing accounts with HM Revenue and Customs (HMRC) for non-plc companies would be brought forward. The date on which corporation tax is due is not intended to be moved.

The intention is for the new rules to apply for accounts ending after 30 September 2007. HMRC are also proposing to reduce the period in which they can commence a formal enquiry into a company’s corporation tax return when the company files its return early.

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