Announcements in the Chancellor's Budget will mean changes to the CT600 forms
While generally claims cannot be made until Royal Assent some of the measures take effect immediately, such as the rates of tax and marginal rate fractions applicable for Financial Year 2002 starting 1 April 2002, and the changes for CIS deductions. Other measures will take effect (subject to Royal Assent) from I April, 17 April, or 1 October, and there is also one which will await a Treasury Order.The revised prints of the CT600 will not be available until late October 2002. In the meantime we will be including a CT600 Budget Insert (PDF 43K) summarising the main changes with every notice to deliver a company tax return (form CT603) we issue for:
- accounting periods ending on or after 1 April 2002, and also,
- from May, with every order for forms CT600 from the CTSA Orderline.
If, exceptionally, companies need to deliver their return for a period ending on or after 1 April 2002 before the new prints of form CT600 are available they can do so if:
- the current 2001 print contains all the entries they need to make, and
- provided they use the new rates of tax and fractions, and
- follow the guidance on CIS deductions.
If a company is affected by any of the new measures it should await enactment and the new prints of form CT600.
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