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?
- RTI 120 3
- Giving a seminar 550 31
- Am i Liable? 212 6
- directors overdrawn loan account 93 1
- Does buying a block of fees qualify as goodwill 127 1
- Tax deductable portion of home rental cost 215 10
- Incorrect Generic non-filing notice 97 1
- Added years superannuation 76 2
- Bank interest in 'near' facility recall situation 205 1
- JIEB Exams 142 1
- Christmas party 133 1
- Fee agreed but client disagrees on amount 759 10
- Checking a contract 304 8
- Flat Rate Scheme 314 15
- Altered PAYE cheque 247 5
- deleting customers on Sage 50 169 7
- VAT on garage rent 331 14
- Value-shifting 89 1
- Pattern for CTA 217 4
- Debiting private use proportion to directors loan account 459 18
- Desperately seeking Susan, Sam or anyone with any other name 1,222
- Experience with Islamic investor following Sharia-compliant rules? 609
- Darwinpay Partnership Assessment 410
- S464A Charge to tax: conferring benefit & BIK 316
- Agent fees to sell business 193
- Alphabet shares 193
- Quirky thread of the year: Community Awards 188
- ACCA continuity of practice arrangement needed 185
- VAT codes In Sage. Am I correct? 167
- Office recharges 150