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Corporation tax return help please

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    #91
    OP - I understand you've had a rough time but it really does look like a mess now which needs sorting out by a pro.

    I know there are some right miserable gits on here sometimes but they're right. Any further delay means its going to cost you more in penalties more than likely.

    Annoying that you've got to cough up for what was a small contract but, alas, thats the way it works with ltd company. Stuff needs to be done regardless if you've worked 1/2 day per year for £50.

    My own brother had a bad experience (Self-employed rather than limited) where he just took the money out and spent it then worried about it later. The amount of fines and penalties from HMRC was massive to be honest.

    Slightly different because he had loads of letters from them and just chucked them in the bin so deserved all he got. At least, you seem to know its got to be sorted.
    But years later hes still paying back and they;re still not off his case.
    Rhyddid i lofnod psychocandy!!!!

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      #92
      Just out of interest, are HMRC fines for not filing the paperwork on time or not paying on time?

      In a circumstance like this (well, maybe not 'like' this), if a rough estimate of tax due was, say £8k, and you had the money handy, could you just overpay HMRC right now - say, £10k - to stop the fines today and give you time to get on with the paperwork. Then once your competent accountant has worked out you owe £8.5k, incl fines, send that to HMRC and await a refund.

      Maybe HMRC would be happy come to an arrangement on that kind of understanding and that if the completed paperwork showed £11k was due, ie. more than you paid, then further fines would be applied retrospectively.

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        #93
        Fines are for either / both. They fine for no paperwork, they fine for late payment....
        merely at clientco for the entertainment

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          #94
          One more tip for OP - if you ever have the opportunity for a short contract again, please just use an umbrella. It might not be the most tax efficient but unless you're in for the long haul, it saves you all the hassle you are now going through. And as an added bonus, you don't even have to worry about IR35 either.

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