I don't know if I should be pleased or concerned as a client contacted me yesterday saying Ltd Bank Account has been frozen
When he contacted the bank, the bank said HMRC has frozen the bank account as the accounts have not been filed
Now, I can understand if my client (ltd) owed some tax (PAYE) which they do but does HMRC have powers to freeze bank account based on not filing the accounts ? I find this hard to believe they would do this especially at these difficult times and have more pressing matters to deal with. My client has been trading for a few years and made losses. Though the accounts are overdue by 3 months only. HMRC did file an objection for striking off the company. Accounts have not been filed as my client has no money.
Any thoughts ?