Share this content
5

IVA and tax

How does an IVA effect the submission of tax returns and also losses b/fwd?

Didn't find your answer?

A client set up an IVA last year, and its the first time I've encounted one. Can anyone suggest somewhere I can find out how it affects the tax side of things? HMRC have issued a new UTR, and the client has large losses from before the IVA.

Thanks. 

Replies (5)

Please login or register to join the discussion.

Caroline
By accountantccole
15th Jan 2018 13:20

Think we had to start again with a new UTR for our IVA client. Clean slate for liabilities but I think when we looked into it the losses could be brought into the new UTR.

Thanks (0)
Replying to accountantccole:
avatar
By daviddaniels
15th Jan 2018 16:51

Thanks for the reply. So was it just a case of preparing the accounts and tax return as normal, but just using the new UTR to file the return?

Thanks (0)
Replying to daviddaniels:
Caroline
By accountantccole
16th Jan 2018 10:59

Yes - it is a couple of years ago but I think that is what we did

Thanks (1)
Replying to daviddaniels:
Caroline
By accountantccole
16th Jan 2018 11:00

Make sure HMRC are up to speed. We had them chasing returns on the old code!

Thanks (1)
Replying to accountantccole:
avatar
By daviddaniels
16th Jan 2018 11:04

Thanks for the replies.

Thanks (0)
Share this content

Related posts