Fines and penalties-will HMRC deal?
A partnership under investigation has both a determined VAT liability and a soon to be determined, income tax liability.
The 'Revenue' part of HMRC have advised that they cannot consider (and therefore negotiate a settlement on) both together and that the client would have to 'negotiate' a settlement with both the VAT people and the 'tax' people.
The VAT liabilty on it's own would force both partners into bankruptcy- with HMRC getting next to nothing- unless it could be reduced by negotiation.
Has anyone managed to get a VAT liabilty reduced?
- SA302 182 3
- Amazon Fees, Sage VAT/Tax code T20? 103 1
- Scottish independence - what happens to HMRC? 1,048 56
- Are HMRC cutting out Agents in tax investigations? 253 2
- Dental practice incorpration 113 1
- Audit rules 154 4
- Stopping trading and de-registering for VAT 229 5
- Disengaging a client who uses our office as a registered office address 819 20
- Go Cardless 266 8
- business entertaining deductibility 129 1
- Self assessment tax arrears 144 2
- R & D 105 3
- Shareholder/Directors termination payments 80 1
- Childcare vouchers and final month payroll Qs 111 2
- Can anybody help withe the RTI end of year process? 163 3
- Payroll software with annual pay period? 155 1
- New Business Registration 216 5
- Hosted email exchange 135 4
- Excel formula for UK corporation tax including losses 151 1
- G P life time allowance 122 3
- Xtuple 502
- Qtac payroll for bureau 336
- Confused - Professional Association a Mutual trader, or not? 281
- Industrial & Provident Societies 277
- Mehjoo 221
- Data transfer from Sage Line 50 to VT Transaction+ 218
- New strategic report 171
- Domain name sale and limited company 159
- South African Government Pension 156
- CIS schemes 151