Have completed abbreviated accounts for Ltd company using the webfiling template provided on companies House website. A profit has been made, which obviously gives rise to a CT charge. As the statutory accounts do not need to be filed until 12 months following the ARD (accounting reference date), I do not have the tax computations, neither do I have time to calculate them as I am already late in submitting to CH. In hindsight, I should/could have used the joint filing facility which allows preperation and submission of both abbreviated accounts and full statutory accounts. I have contacted HMRC and asked if I can make a payment on account against the companies CT liability, overestimating as opposed to under. Apologies if this sounds silly, Corporation tax is not an allowable business expense, however the money will be raised from the business, should this be included within the accounts I am about to submit as a liability to the revenue?
Yes, the corporation tax liability for the year would be included as a creditor in the accounts.
If the late filing penalty from Companies House isn't going to increase in the near future (details of penalties can be found here), then I would take the time to prepare the full accounts and tax computations. As you suggested, the company can make an estimated corporation tax payment to HM Revenue & Customs to minimise any late payment interest.
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Pearce & Co - Chartered Accountant and Chartered Tax Adviser
