Introduction Overview Overview Section 631: Company in administration: making of assessment to tax
1974.This section enables an administrator to make a corporation tax self-assessment for an accounting period that has not finished. It is based on section 342A(6), (7) and (8) of ICTA.
1975.In normal circumstances it is not possible to make a corporation tax self-assessment before the end of an accounting period. In the majority of instances the profits for the period are not known in advance and the relevant corporation tax rates may not have been fixed.
1976.Administrators may seek to finalise a company’s liability to corporation tax in advance of an anticipated dissolution date. This section enables the administrator to do so by making a corporation tax self-assessment before the end of an accounting period.
1977.The rules about determining the end of an accounting period are in section 10 of CTA 2009 (see particularly subsection (3)).