corporation tax

Associate
Joined
30 Apr 2011
Posts
861
Location
cheshire
any accountants online that could help me out ?

are abbreviated accounts a form of corporation tax accounts ?
 
Last edited:
Soldato
Joined
6 Sep 2005
Posts
5,787
Location
Essex
HMRC require full accounts and also a detailed P&L which isn't a requirement of Companies House filing.
 
Associate
Joined
30 Apr 2011
Posts
861
Location
cheshire
i have been fined £100 for a none return from the 10th august 2011 to the 7th september 2011.

i don't understand where they are getting this from its only a month ?
 
Associate
Joined
30 Apr 2011
Posts
861
Location
cheshire
What's your accounting date?

some screenshots
do any of these returns refer to corporation tax ?


screen shot from companiesmadesimple
bus1.png


screen shot from companies house
bus2.png
 
Last edited:
Soldato
Joined
6 Sep 2005
Posts
5,787
Location
Essex
Just tell HMRC that your accounting date is 31 August, you've presumably filed the 2011 tax return by the 31 August 2012 and HMRC have their dates wrong and the penalty isn't correct. It's all automated so they spam out these penalties quite often by mistake.

Edit: I also assume you filed 2 tax returns for the period ending 31 August 2011 or you were dormant for part of that period?
 
Associate
Joined
30 Apr 2011
Posts
861
Location
cheshire
Just tell HMRC that your accounting date is 31 August, you've presumably filed the 2011 tax return by the 31 August 2012 and HMRC have their dates wrong and the penalty isn't correct. It's all automated so they spam out these penalties quite often by mistake.

Edit: I also assume you filed 2 tax returns for the period ending 31 August 2011 or you were dormant for part of that period?

what 2 tax returns would they be ?
i am new to this.
 
Soldato
Joined
6 Sep 2005
Posts
5,787
Location
Essex
A tax return can cover a maximum of 12 months, if you incorporated on 10 August 2010 and your first accounting period was until 31 August 2011 then that's longer than 12 months and 2 tax returns are required.

Unless you incorporated and didn't begin to trade immediately.
 
Associate
Joined
30 Apr 2011
Posts
861
Location
cheshire
A tax return can cover a maximum of 12 months, if you incorporated on 10 August 2010 and your first accounting period was until 31 August 2011 then that's longer than 12 months and 2 tax returns are required.

Unless you incorporated and didn't begin to trade immediately.

i started trading on the 31/07/2010

are they correct then ?
 
Soldato
Joined
6 Sep 2005
Posts
5,787
Location
Essex
Did you prepare the tax return yourself or did you pay someone to do it for you?

It sounds like you should have submitted 2 tax returns. HMRC have got the dates wrong but that just means the penalty should have been issued sooner if you only filed 1 return.
 
Associate
Joined
30 Apr 2011
Posts
861
Location
cheshire
Did you prepare the tax return yourself or did you pay someone to do it for you?

It sounds like you should have submitted 2 tax returns. HMRC have got the dates wrong but that just means the penalty should have been issued sooner if you only filed 1 return.

myself.

i submitted abbreviated accounts are these what they are on about ?
 
Soldato
Joined
6 Sep 2005
Posts
5,787
Location
Essex
Submitted to whom? HMRC or Companies House? They're 2 separate organisations.

Have you done your tax return?
 
Soldato
Joined
6 Sep 2005
Posts
5,787
Location
Essex
Not self assessment for yourself personally, but yes, self assessment for your company.

By the sounds of it you are late and the penalty is accurate, technically you actually owe 2 £100 penalties for the two tax returns.

Go see a local accountant and get it sorted ASAP. Next band of penalties will be due mid November so you don't have a lot of time.
 
Top