NO directors Loan account declared on CT600
Last minute client has come forward.
In company accounts ending 31 Dec 2011 DLA overdrawn by £13K. The director did not include herself in P35 calculations for 5th April 2012 but submitted for staff, even though during the year she took out £22k from the company. Small portion (£1k approx) is mileage and other incidentals.
CT600 submitted in Sept 2012 with DLA in debtors and no declaration and no payment of 25%.
My advice is resubmit CT600 and pay the 25% and await fines from HMRC. How much are the fines likely to be? I assume that there will be penalties for the 25% and the lack of P11D benefits.
Any other advice greatly appreciated.
- Clearbooks - creating a HP Account 71 2
- Two trades one individual - Vat registration? 309 2
- How to claim subsistence for working away from home 194 3
- looking for a practice consultant 166 2
- The stupidity continues 1,456 73
- Withdrawing company car 119 1
- AML report needed? 191 7
- Bank request To verify Accounts 246 6
- RE assets introduced and rent 95 1
- transactions after account have been closed 322 10
- VAT on work on residential premises (empty for 2 years prior) 90 1
- Land Rover Discovery 3.0 SDV6 255 Comm Auto 2 seat 396 9
- Marketing and email surprises 454 9
- If you've had any issues posting: Please read this 770 26
- What is IRIS World like? 421 10
- Limited company director - other earnings in the tax year 334 5
- Mlom bollocks 279 4
- VT Transactions Stock Issues 126 2
- Non-Europe based but want to do UK taxes 160 1
- CIMA at the age of 35?? 599 11
- Has anyone been affected by the RBS payment breakdown? 449
- Straight line write off of Purchase Goodwill ??? 448
- WIP Software 310
- FRS 102 compliant illustrative accounts for an insurance company 296
- No payroll scheme in place 244
- CGT, PPR and transfer of equity to spouse. 242
- Do subcontractors on work for residential (student accomodation) construction 218
- Is there anything wrong with this? 213
- Small Part Disposal of Property 203
- Uncommercial property business 191