Quantum AI Ltd, a tech startup, commenced trading on 1 January 2023 and prepared its first set of accounts for the 15-month period ended 31 March 2024. What is the filing deadline for the company's Corporation Tax return(s) for this period?

Answer options:

31 December 2024 and 31 March 2025

31 March 2025 for both returns

31 December 2024 for both returns

1 January 2025 and 1 April 2025

How to approach this question

Identify the length of the period of account. If it exceeds 12 months, two returns are needed. The filing deadline for both is 12 months after the end of the period of account.

Full Answer

B.31 March 2025 for both returns✓ Correct

When a company has a period of account exceeding 12 months, it must file two CT600 returns (one for the first 12 months, one for the remainder). However, the filing deadline for both returns is 12 months after the end of the period of account (31 March 2024 + 12 months = 31 March 2025).

Common mistakes

Students often think the first return is due 12 months after the first 12-month period ends.

All questions Question 02

Practice the full ACCA TX — Taxation Practice Exam 6

32 questions · hints · full answers · grading

More questions from this exam

Q02Marcus, a freelance graphic designer, had an income tax and Class 4 NIC liability of £6,000 for t...Easy Q03Which TWO of the following employment benefits provided to an agriculture worker are EXEMPT from ...Easy Q04To qualify as a Furnished Holiday Letting (FHL), for how many days in the tax year must the prope...Medium Q05An employer provides an employee with a new zero-emission electric company car. The list price is...Medium Q06An antique clock (a non-wasting chattel) was purchased for £3,000 and sold for £7,200. What is th...Hard

View all 32 questions →