CT61Z Forms

We can help with the completion of form CT61 to claim the return of Income Tax, interest, alternative finance payments, manufactured payments from abroad and tax on relevant distributions.

When a limited company pays interest to a lender it is required to deduct tax from this payment unless the lender has permission to receive the sum gross. All of the major clearing Banks have this authority but directors and private individuals do not.

The reason for the deduction is to give the recipient a tax credit to set against the liability due on the money if they are a tax payer.

As a leading firm of Chartered Accountants in Essex, Lambert Chapman LLP see the payment of interest as a useful source of income, particularly when the base rate is very low, and part of an overall package of earnings from their business. This may be particularly relevant if large bonuses or dividends are paid and reinvested back into the business.

The CT61Z form is required on a quarterly basis for months ended March, June, September and December with an extra form needed if the year end is not one of these months. It is used to set out the deductions made and sources of income paid by the Company and filed within 14 days of the quarter end.

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Contact us today to find out how we can help and let us provide a tailored quotation suitable for your business.

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Contact us today to find out how we can help and let us provide a tailored quotation suitable for your business.