SolvedCOM1100 | Accounting periods: company accounting periods: new cases
From HM Revenue & Customs · COTAX Manual
When new cases are set up, COTAX creates Accounting Periods (APs) and periods of dormancy automatically using the information held. The following table sets out what APs are created using the different items of information available
| Information held | AP records created |
|---|---|
| Date of incorporation only. | From the date of incorporation for 12 months and then from the day after the end of the above period to the accounting reference date. |
| Date of incorporation and date business commenced. | From the date of commencement of business for 12 months. Any period prior to the date business commenced is marked as dormant. |
| Date of incorporation, date business commenced and first intended accounting date. | From the date of commencement of business to the earlier of the expiry of 12 months or the first intended accounting date. Any period prior to the date business commenced is marked as dormant. |
Example 1
| Date of Event | COTAX Record |
| 21/01/2023 | Company incorporated |
| 25/01/2023 | Case record automatically set up on COTAX on receipt of data from Companies HouseCOTAX records:AP1 as 21/01/2023 to 20/01/2024AP2 as 21/01/2024 to 31/01/2024 |
| 01/09/2023 | Information received showingBusiness commenced 01/03/2023First accounts will be to 31/12/2023 |
| 26/09/2023 | Date of commencement and accounting date entered on COTAX.COTAX updates the AP record to showPeriod 21/01/2023 to 28/02/2023 (Dormant)Period 01/03/2023 to 31/12/2023 (Live AP) |
Example2
| Date of Event | COTAX Record |
| 21/01/2023 | Company incorporated |
| 25/01/2023 | Case record automatically set up on COTAX on receipt of data from Companies HouseCOTAX records:AP1 as 21/01/2023 to 20/01/2024AP2 as 21/01/2024 to 31/01/2024 |
| 14/06/2023 | Information received showingBusiness commenced 01/02/2023First accounts will be to 31/03/2024 |
| 22/06/2023 | Date of commencement and accounting date entered on COTAX.COTAX updates the AP record to showPeriod 21/01/2023 to 31/01/2023 (Dormant)Period 01/02/2023 to 31/01/2024 (Live AP)Period 01/02/2024 to 31/03/2024 (Live AP) |
COTAX accepts amendments to the ‘information held’ column above at any time. It applies the above rules unless any of the following apply:
function MAPD (Maintain AP Dates) has already been used
COTAX has issued a notice to deliver
COTAX has recorded a payment of tax
there is a logged return
a CTSA assessment has been recorded
In these cases, a screen message advises you that COTAX cannot amend the AP record automatically. You should use function MAPD escalate the case update the AP record accordingly. See COM1080 for more information.
See: