Corporation Tax Act 2010 section 631

Company in administration: making of assessment to tax

Section 631 enables an administrator of a company in administration to make a corporation tax assessment before the end of an accounting period, in anticipation of the company's dissolution.

• An assessment to corporation tax on the profits of a company in administration is valid even if made before the accounting period has ended
• The administrator may assume a dissolution date (the "assumed dissolution date") for the purpose of determining when accounting periods end
• If the assumed dissolution date turns out to be wrong, the company's final and penultimate years are not changed
• If the actual dissolution date is later than the assumed date, a new accounting period begins immediately after the assumed date, and the company is treated as having entered administration at the start of that new period