Advising 'tricky' client...
A client of mine that has been a good, clean client declared dividends of circa £50k in his last accounting year, and Corporation Tax was £15k. When I told him the tax bill he said he had 'missed' expenses, and ultimately after conversations he said the company was no longer trading, that he was taking am employment contract instead.
My issue is that now, he said he cannot afford to pay the CT - is it likely that HMRC will take action against him, or will he be like many others who seem to start new companies often to deliberately avoid taxes?
I don't have any personal experience in this situation and would appreciate any advice.
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