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.

 

 

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Hold on a moment

BKD |
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... and a moment longer!

Euan MacLennan |
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