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!
- Treatment of private ambulances on introduction to business 49 2
- Voluntary Disclosure 355 8
- Gift to son by parents 62 1
- Is there no lower level to the work a lawyer would take on. 1,045 32
- valuation of vehicles 479 19
- How to revise RTI for Moneysoft 267 4
- Director Salaries - Sole Director Limited Company who is also employed elsewhere 134 1
- Ethical Issues / Conflict of Interest 376 3
- Mortgage Interest - Tax Deductible 448 4
- BTC is slow 292 3
- Director registration for SA question 517 17
- Issues with freelancer taking zero salary from limited company 443 6
- Tax on LLP members drawings not covered by future profits 514 22
- Business only use of company car 726 26
- Dormant company late with their CH submission 524 14
- Penalties for late PAYE scheme 353 4
- New Company reviews please 581 13
- How do you pay Inheritance Tax when HMRC haven't demanded it 346 4
- VAT with Russia 272 2
- VAT FRS percentage for sales person? 241 4
- RTI Rollback to delete incorrect data 312
- Vouchedfor.co.uk 255
- Any thoughts on Capium? 252
- Motor Traders Assistant Bookkeeping Programme queries 247
- Tracesmart/Lexis Nexis AML software? Any opinions? 226
- auto enrolment 199
- Sage Compatible P60's Self Seal 185
- Continuity of practice-ACCA 167
- How to account for investment in JV? 164
- Recommended International mobile phone coverage and costs? 152