SolvedCTM90180 | Corporation Tax self assessment: Glossary of Terms
From HM Revenue & Customs · Company Taxation Manual
| Accounting date | The date to which a company prepares its accounts. |
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| Accounting period | The period for which CT is assessed under the Taxes Acts, see CTM01400 onwards. |
| Filing date | The date by which companies must deliver a company tax return to an officer of Revenue & Customs, see CTM93030. |
| Flat - rate penalty | A penalty for the late delivery of a return which varies from £100 to £1,000 according to the degree and habit of lateness, see CTM94050. |
| Joint amended return | An amended return made under the special joint amended return arrangement for group relief claims, see CTM97770. |
| Late payment interest | Interest charged under TMA70/S87A on payments of CT made after the due and payable date, see CTM92190. |
| Period of accounts | The period for which accounts are prepared by the company. |
| Repayment interest | Interest payable under ICTA88/S826 on repayments of CT or IT, or on payments of tax credit made after the due and payable date, see CTM92240. |
| Return period | The period for which a CT return is required under FA98/SCH18/PARA5, see CTM93020. |
| Served | A Para 3 notice is deemed to be served on a company on the third working day after it has been posted or one working day if posted first class unless the contrary is proved, see CTM93070. |
| Specified period | The period which is shown on the notice to deliver a return (form CT603). This will be a period that an officer expects to be a return period, but if the company’s circumstances have changed the return period may be different, see CTM93020. |
| Para 3 notice | The notice to deliver a return (form CT603) which must be served on a company in order to impose the obligation to deliver a return. See CTM93005 . |
| Tax-geared penalty | A penalty for the late delivery of a return, which is calculated by reference to tax unpaid. The penalty is charged at 10% or 20% of the tax unpaid according to the degree of lateness, see CTM94060. |
| Tax unpaid | The amount of CT unpaid, usually 18 months after the end of that accounting period, see CTM94070. |