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company tax payment

company tax payment

my company ceased trading on 31/01/2012.company accounts made up to date and sent in and accepted by tax office.,company closed with no outstanding debt and bank account also closed.Form sent to company house to be removed on 31/1/2012.There is a tax liability of £4500. what power have they for payment to be made and who has the liability if any.

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10th Aug 2012 13:26

wrong ceased trading date

can you correct your ceased trading date

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10th Aug 2012 14:14

When a company is dissolved it's debts die with it, so I would write to the HMRC office and tell them the company is struck off.

 

They sometimes attempt to get a "voluntary" payment from former shareholders though! Theonly other route is that they could try to restore the company - but if they did it would cost them in legal fees and what assets of the company would there be? Probably none!

 

but has the company been removed from Companies House yet? If not, they will persue the company and may object to the striking off.

Was there an amount paid out  to the members? If so, did it take into account this liability? Ifthe company exists there is a chance that, if a director or shareholder still owes the company money e.g dirctors loan account, that the ask for the money back to enable the debt to be paid

 

my advice - talk to your accountant or an insolvency professinal.

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By BKD
10th Aug 2012 14:19

More info required

If there was a tax liability, there must have been profits of some description. What happened to those profits or, more accurately, what happened to the cash?

You say there was a tax liability, but no debt. There is a contradiction there.

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11th Aug 2012 19:30

tax liability

all outstanding monies except the tax  was cleared by the director before the company dissolved,

and now no longer on companies list.so is there a liability to the director,who no longer exists

on the company register.

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11th Aug 2012 19:59

Were there any dividend payments before it was dissloved

 

If there were a loan to the director on winding up - it would indicate it was insolvent when it was struck off and the director had to pump funds in to clear the debt? How much was owed?

 

It is an offence for a comany to be struck offf, knowing that all its debts have not been settled - and in some cases, it could be they are held liabile.

 

 

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