Member Since: 6th Mar 2002
29th Aug 2017
I appreciate the responses - thanks.
Yes, you could say in principle the solicitors are at fault, but in practice we have found that they genuinely didn't know, perhaps more so the smaller high street ones. Did HMRC ever advertise these Returns directly to the legal profession? I think not. Even if the Law Society were onto it, did HMRC advertise to them and when/how would this filter down to legal practitioners?
I don't foresee any successful claim against a solicitor in a case like this.
29th Aug 2017
The daily penalties have been removed, which leaves £700 of fixed penalties, x 3 different clients. We know the FTT involves more expense, but these penalties are a disgrace. The solicitors didn't advise/didn't know. What chance do we or the client have to report within 30 days?
19th Jun 2017
As a start:
Try IHT manual IHTM28041 or thereabouts and also the IHT400 notes, section 82.
26th May 2017
We have 3 clients with such disposals. All 3 have been penalised for late Non-Res CGT returns despite SA returns being submitted on time and no tax due.
We have appealed all 3 penalties, but no response from HMRC yet. In a chase-up call, they said the appeal was recorded as received, but they can't say where it is and they need to trace it.
The most baffling postal system in the world?
3rd May 2017
Yes, solvent, an MVL.
2nd Nov 2016
Try Company Tax Manual CTM36200 onwards.
I think you might need to reduce the share capital under the Companies Act 2006 provisions - by a special resolution etc. However as I understand it, for tax purposes, the share capital is not included for the £25k cap.
Peter Rayney's book Tax Planning for Family And OMBs is very good for this type of thing.
20th Oct 2016
Yes, I have done this too.
Is it too much to hope for that HMRC can join the dots between PAYE and SA?.......
10th Oct 2016
Just bumping this up.............anyone have any ideas on this?
11th Jul 2016
Mmm, I wouldn't agree it is clumsy. It achieved the end result and they wanted to increase the share capital to a more practical number anyway. There is a disposal by the second shareholder either way.
11th Feb 2016
I agree with RedFive.
Our lowest fees are about £300 - £400 and the more difficult ones are scaled up from there depending on time and complexity.
I do understand the local market arguments etc, but you still need to cover your own costs, e.g. software, office, etc, not to mention actually getting paid for your time and knowledge.
Our knowledge and time is valuable and we take the view that clients need to recognise and pay for this. If they think it is too expensive, how would they get on if they tried to do it themselves??