Company in Liquidation - HMRC's Rights
Client company has been put into liquidation.
Liquidator has prepared a statement of affairs showing a deficit.
Within the unsecured creditors are paye of £15k and VAT of £6k.
A large trading loss has been made in the final period of trading, which we are considering making a loss relief claim for.
The corporation tax relief due will be circa £17.5k. Will HMRC have the right to transfer this against the outstanding paye/vat liability or will they be required to repay it and then receive their proportion of the dividend paid out to creditors with this refund?
If the former, there seems little point in putting in the claim as their will be no other assets to claim our fees against?
- How much to charge? 654 10
- break even point 978 30
- PAYE NI 51 1
- Liability account to deal with loans from owner 52 1
- Trustee in Bankruptcy 142 5
- Accomodation and travel 186 1
- Unpaid Fee's 289 6
- Issue with a software supplier 177 4
- Tax relief for backdated pension contributions 204 6
- Is there a requirement to clearly state the amount of a bill? 277 5
- Limited Company trading status. 224 6
- VAT flat rate scheme 91 1
- Failure to operate PAYE 1,591 29
- Alphabet shares dividend paperwork 132 2
- Aquisition Value 116 3
- Does anyone know how to deal with crowd funding income 377 8
- When should i raise VAT invoice after pro-forma payment received? 428 12
- Dividends 284 3
- SA302s - Lenders to accept non hmrc copies 800 13
- Collecting cash on behalf of another business 173 4
- Possible Partnership? 507
- Lunatics in charge of the asylum - Bluestone 486
- Tax and accounting treatment on long lease granted from freehold 463
- New Fangled Penalties 302
- Clubs and Taxable Income 255
- Purchase of property freehold - capitalisation of costs 254
- Deferring taxable income until after 5 April 244
- Loans to other companies 190
- Tasbook email configuration 180
- Closed PAYE schemes and auto enrolment 163