Corporation tax - self assessment

The key features include: • a company is required to pay the tax due in advance of filing a tax return • a 'process now, check later' enquiry regime when the tax return is submitted • the inclusion in the tax return, and in a single self assessment, of the liabilities of close companies on loans and advances to shareholders and others, and of liabilities under Controlled Foreign Companies legislation • the requirement for companies to self assess by reference to transfer pricing legislation.