Tax Determination & Time Limits
One man band plumber..... hasn't done a tax return for the year to 5 April 2009 and HMRC have now raised a Determination of Tax Due for £6,000 - being estimated income tax and class 4 NIC.
Having looked at the plumbers records - I estimate the true amount of tax to be due for the year to be around £15k.
My opinion is he has two options:
1. Submit a tax return showing the true amounts of tax & NIC due prior to 31/01/2013 - being three years after the original filing deadline; or
2. Pay the £6k tax per the determination and after 31/01/2013 HMRC are out of time to amend it.
Does that sound right? Are there any other options?
Thanks in advance!
- Sage accounts help 23 1
- Probate services 305 4
- Opening Balance in Sage 50 Accounts 47 1
- Annual to At Least Quarterly 300 10
- Community Faux Pas 765 25
- AAT before CIMA? 75 1
- trading losses allowable? 710 13
- Digital tax accounts - what do we expect? 414 9
- Tax Fines - HMRC 721 11
- Shared Network Drive on the Cloud 63 3
- VAT - Check on clients business 841 34
- Portuguese Resident having a UK Limited Company 143 6
- Here we go.... 805 25
- Capital Gains 324 6
- Anybody have that old ACCA Student Training Record (STR)? 138 1
- Salary Sacrifce School Fees Self Assessment 284 11
- Repaying Directors Loans within 9 months 645 21
- Group relief for CT 126 2
- Practical experience 771 14
- Is Xero payroll as rubbish as I suspect it is? 1,251 23