COM1081 - Accounting periods: company accounting periods: maintaining the AP record (Action Guide)

To maintain company AP records, consider steps 1 - 6 below. The guide is presented as follows

Set up new APs Steps 1 - 2
Amend existing APs Steps 3 - 4
Record dormant periods Step 5
Record exempt periods Step 6

Set up new APs

1. Use Function MAPD (Maintain AP Dates) to enter
 
  • The start and end dates of the first new AP
 
  • ‘L’ in the Status field
2. Continue entering new APs in chronological order, without gaps or overlaps, until
 
  • You have entered every AP that is less than 12 months
 

Or
 
  • You have entered APs for at least 2 calendar years ahead

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Amend existing APs

3. Use Function MAPD (Maintain AP Dates) to enter
 
  • The start and end dates of the first amended AP (the start date field of the first new (revised) AP is pre-populated with the start date of the period you selected).
 
  • ‘L’ in the Status field
4. Continue entering amended AP details, until
 
  • You have completed all available lines
 

Or
 
  • The end date of the latest amended AP is later than the end date of the latest existing AP
 

Or
 
  Note: You must not create live APs far into the future. You only need to create an AP ending on or after the date on which you are using the function. COTAX will identify the correct point at which to issue a notice to deliver for that AP and create the following live AP.

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Record dormant periods

5. Use Function MAPD (Maintain AP Dates) to
 
  • Enter the start and end dates of the dormant period
 

Note: The end date of the dormant period must be either
 
    • The date of striking-off
    • The actual date on which the dormancy period ended
Or where the dormancy period end date is in the future
    • Any date, including 31 May, as long as it is followed by a live AP and no later than 5 years from the dormancy period start date
 
Or
 
    • 31st May and no later than 5 years from the dormancy period start date
 
  • Enter ‘D’ in the Status field
  Note: When you set up a dormancy period, if the end date is no more than 180 days in the future you will be able to inhibit the automatic issue of form CT204.

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Record exempt periods

6. Exempt periods must only be set up by staff dealing with Charities.Use Function MAPD (Maintain AP Dates) to
 
  • Enter the start and end dates of the exempt period. See subject ‘Status Indicators’ (COM1110) in this section for details of exempt periods
  • Enter ‘E’ in the Status field
  • Enter the frequency for which a notice to deliver (Word 29KB) is to be issued
 

Note: The frequency can be between 1 and 9 years. If you do not want a notice to deliver issued at all enter ‘0’

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