The First Tier Tax Tribunal recently heard the case of Ghelanis Superstore and Cash and Carry Ltd v HMRC (TC03251).
I have a client, Company A, who in Nov-13 purchased 100% of the shares in Company B. Company B has losses for the financial year ended Apr-13 but not yet completed it's tax return.
Firstly, I am in the process of talking to an accountant about these issues, but thought I'd put them in front of you too.
Been on HMRC website and difficult to get a definitive answer on this:
HMRC was once again up in front of the Public Accounts Committee (PAC) to answ
Has anybody been receiving penalties in respect of their clients for late filed corporation tax returns - especially if the returns have been filed on time and acknowledged?
Sitting untouched in accruals for my new small OMB client company is a £9k director's bonus accrued at year ended Feb 2012.
I have a situation, which must be fairly common, where two otherwise unconnected shareholders/directors have 50% each of the share capital of a trading company.
A client engaged another accountancy firm who specialise in marketing and selling companies to sell his company. I'm responsible for filing the corporation tax return.