Capital Gain Tax - Please advise

[Clare@InTouch]

I presume you put TRY as it is a last ditch attempt but surely he has to get approval before end of Jan of which is has Bob Hope and also if he gets it Jan his banking says other wise so is wide open to investigation and a fair cop? Surely it is too late for this?

Probably, but it's worth a punt as the tax at stake is presumably quite a lot. If the accounts show a capital distribution and all that's missing was the ESC application then he has a better chance than if the accounts were prepared and submitted on the basis of the final money being a dividend (in which case the accounts would need to be amended, re-filed at HMRC & Companies House, and they are more likely to disagree).

It takes HMRC about a month to reply to ESC letters at the moment, depending on which tax office you apply to.

The expected changes to the ESC could also kick in at any time.

I'd be reviewing engagement letters and emails from the accountant if I were the OP, just to establish if there's any scope for a professional indemnity claim should the worst happen.

[THEPUMA]

I am sure you can retro-apply for ESC C16. I think we did it once when we inherited a client whose accountant hadn't done it properly and they allowed it.

PUMA