When a company stops trading, BrightTax needs to reflect this in both the Corporation Tax return and the client record. This article explains where to enter the cessation date on the CT return, how to update the company status in BrightHub, and what other steps are required for the final accounting period.

The cessation date is entered within the Corporation Tax return for the final accounting period:

1. Open the CT return for the final accounting period in BrightTax.
2. Switch to Edit mode using the toggle in the bottom-left corner.
3. Navigate to the CT600 form via the Table of Contents.
4. Locate the Company Information section (CT600 box 30 area).
5. Find the field for date the company ceased trading or date of cessation.
6. Enter the date the company stopped trading.
7. Save the return.

To reflect the cessation in BrightHub and prevent the company from appearing in active client views:

1. Log in to BrightHub at hub.brightsg.com.
2. Go to the organisation client record for the company.
3. Click Edit on the client details.
4. Update the Client Status to Inactive or Ceased — the exact label depends on your BrightHub configuration.
5. Enter the date of cessation in the relevant date field.
6. Save the changes.

1. In BrightTax, open the client record for the company.
2. Go to the Details tab.
3. Click Edit Record.
4. Update the client status to reflect cessation.
5. Save.

The final CT return for a ceased company has some specific requirements:

• The accounting period end date should reflect the actual cessation date — it may be shorter than 12 months.
• Any terminal trading losses can be carried back against the profits of the three preceding years under HMRC's terminal loss relief rules.
• Capital allowances in the final period are subject to balancing allowances or balancing charges on all pooled assets.
• The CT return must still be submitted to HMRC by the normal deadline — 12 months after the accounting period end.

Q: The company has ceased trading but has not yet been struck off — do I mark it as ceased now?

A: Yes — update the status to reflect that trading has ceased even if the formal strike-off process has not yet started. This keeps your active client list accurate. You can update the status again once the company is formally dissolved.

Q: Where do I record the cessation date for a sole trader who has stopped trading?

A: For sole traders, the cessation date is entered on the SA103 Self-Employment supplementary schedule — tick the 'Business ceased' option and enter the date trading stopped.

Q: Can I still access the company's historical returns after marking it as ceased?

A: Yes. Updating the status to Inactive or Ceased only affects how the client appears in active lists and dashboards. All historical returns and submissions remain fully accessible.