(c) (i) State the date by which Thai Curry Ltd’s self-assessment corporation tax return for the year

30 September 2005 should be submitted, and advise the company of the penalties that will be due if

the return is not submitted until 31 May 2007. (3 marks)

(ii) State the date by which Thai Curry Ltd’s corporation tax liability for the year ended 30 September 2005

should be paid, and advise the company of the interest that will be due if the liability is not paid until

31 May 2007. (3 marks)

参考答案

正确答案：

(c) Self-assessment tax return(1) Thai Curry Ltd’s self-assessment corporation tax return for the year ended 30 September 2005 must be submitted by30 September 2006.(2) If the company does not submit its self-assessment tax return until 31 May 2007, then there will be an automatic fixedpenalty of ￡200 since the return is more than three months late.(3) There will also be an additional corporation tax related penalty of ￡4,415 (44,150 × 10%) being 10% of the tax unpaid,since the self-assessment tax return is more than six months late.Corporation tax liability(1) Thai Curry Ltd’s corporation tax liability for the year ended 30 September 2005 must be paid by 1 July 2006.(2) If the company does not pay its corporation tax until 31 May 2007, then interest of ￡3,035 (44,150 at 7·5% = 3,311× 11/12) will be charged by HM Revenue & Customs for the period 1 July 2006 to 31 May 2007.

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