My client required a Certificate of UK Fiscal Residence to replace the one issued previously which was about to expire. The online application was duly filed and after three months of chasing I sent in a formal complaint. When I next telephoned I was advised that once a complaint is lodged no further action would be taken regarding the original request and that the complaint would be dealt with 'in due course'. Not very helpful. In any event the required certificate eventually arrived some four months after the original application. Probably quite quick by the current standard.
Many thanks to all who took the time and trouble to answer the question. I suspect there are many taxpayers who are overpaying because of the complexity and lack of clarity in the legislation / guidance.
Thanks taxdigital. Your numbers are correct but the tax charge of £5,286 includes £1,200 charge on the interest income (£7,000 less £1,000 nil rate band); the personal allowance is set against the income from property otherwise the nil rate band is lost.
Some years ago I had a dent knocked out on the wing of my old banger. The charge was £40 from a one person business. I asked why it was so high for a few minutes work. The bill was then broken down for me.
Knocking out dent £5.00
Knowing where to knock £35
My advice to any one starting up in business is never to under-price yourself to get the job. It is simply not worth it in the long run.
Many thanks for all of the replies. I did like the references to Trump and Putin, there are similarities.
It is a Club rather than a trading company and as ever there is quite a lot of acrimony. Not making payments to the Director is an option but there are of course the other duties of a Director (they still have cheques!) which can be worked around. I wouldn't permit the Director signing the accounts off in these circumstances. I was hoping to find a case reference but I have not yet succeeded. Company Law (I can just about remember studying it) permits an appointment to replace a Director prior to an AGM but given that as the Articles stand he is no longer permitted to stand for office I have now taken the view that he ceased to be a Director on the 6th anniversary of his appointment. As pointed out at the start of the replies it is a legal question so they can follow it up at their expense should they wish to!
The comment about incorporations is a fact and is not intended as an excuse for the sloppy way in which CH operates in some areas. The statistics are a reflection of Government policy which used to encourage limited company formation in the belief that it would give greater control and reduce avoidance thereby increasing the tax take. A policy which has failed miserably. The recent changes to taxation of one person limited companies will almost certainly result in fewer incorporations which in turn will increase the numbers of self employed.
In the 12 months to 30 September 2016 638,518 new incorporations were registered at Companies House and there were 439,205 dissolutions and there are 3.5million live companies on the register. There is no possibility that HMRC or Companies house can properly police numbers of that magnitude.
Yes, with the first client I phoned the tax office and they have sent a chaser through to find out why there was a rejection for a year still in progress. When the latest ones turned up I phoned HMRC and they have resurrected the reductions. No one needs this at this time of the year!! And I expect the clients wonder if I never requested the reductions in the first place (well I would wonder that anyway!!).
My answers
My client required a Certificate of UK Fiscal Residence to replace the one issued previously which was about to expire. The online application was duly filed and after three months of chasing I sent in a formal complaint. When I next telephoned I was advised that once a complaint is lodged no further action would be taken regarding the original request and that the complaint would be dealt with 'in due course'. Not very helpful. In any event the required certificate eventually arrived some four months after the original application. Probably quite quick by the current standard.
VT is streets ahead for accounts production and reasonably priced.
Many thanks to all who took the time and trouble to answer the question. I suspect there are many taxpayers who are overpaying because of the complexity and lack of clarity in the legislation / guidance.
Thanks paul.benny. Will try to track her down.
Thanks taxdigital. Your numbers are correct but the tax charge of £5,286 includes £1,200 charge on the interest income (£7,000 less £1,000 nil rate band); the personal allowance is set against the income from property otherwise the nil rate band is lost.
Some years ago I had a dent knocked out on the wing of my old banger. The charge was £40 from a one person business. I asked why it was so high for a few minutes work. The bill was then broken down for me.
Knocking out dent £5.00
Knowing where to knock £35
My advice to any one starting up in business is never to under-price yourself to get the job. It is simply not worth it in the long run.
Many thanks for all of the replies. I did like the references to Trump and Putin, there are similarities.
It is a Club rather than a trading company and as ever there is quite a lot of acrimony. Not making payments to the Director is an option but there are of course the other duties of a Director (they still have cheques!) which can be worked around. I wouldn't permit the Director signing the accounts off in these circumstances. I was hoping to find a case reference but I have not yet succeeded. Company Law (I can just about remember studying it) permits an appointment to replace a Director prior to an AGM but given that as the Articles stand he is no longer permitted to stand for office I have now taken the view that he ceased to be a Director on the 6th anniversary of his appointment. As pointed out at the start of the replies it is a legal question so they can follow it up at their expense should they wish to!
The comment about incorporations is a fact and is not intended as an excuse for the sloppy way in which CH operates in some areas. The statistics are a reflection of Government policy which used to encourage limited company formation in the belief that it would give greater control and reduce avoidance thereby increasing the tax take. A policy which has failed miserably. The recent changes to taxation of one person limited companies will almost certainly result in fewer incorporations which in turn will increase the numbers of self employed.
In the 12 months to 30 September 2016 638,518 new incorporations were registered at Companies House and there were 439,205 dissolutions and there are 3.5million live companies on the register. There is no possibility that HMRC or Companies house can properly police numbers of that magnitude.
Yes, with the first client I phoned the tax office and they have sent a chaser through to find out why there was a rejection for a year still in progress. When the latest ones turned up I phoned HMRC and they have resurrected the reductions. No one needs this at this time of the year!! And I expect the clients wonder if I never requested the reductions in the first place (well I would wonder that anyway!!).