Kat didn't pay vat

[vetran]

EastEnders actress Jessie Wallace's firm 'owes £40,000 in unpaid tax' | Daily Mail Online

EastEnders actress Jessie Wallace's firm 'owes £40,000 in unpaid tax as the company is fully wound up', documents show

• Thatcher Promotions Limited was placed into voluntary liquidation in 2015
• Report shows it owed £69,614 to the HMRC in unpaid corporation tax and VAT
• Wallace is listed as the director of Thatcher Promotions Limited by government

[AtW]

Can’t they got after Directors/shareholders in such case?

“ A legal charge was later placed on the EastEnders star's home to ensure she repaid the money, the Mirror reported.

She returned a total of £60,000, but much of this went to cover legal fees.

Wallace ended up with enough cash to pay back around £27,000 of the £69,614 owed to HMRC, it was said.”

[xoggoth]

Who didn't pay what? Does anyone here seriously watch EastEnders?

[vetran]

Personally I would make VAT payments monthly for at first large organisations and then smaller LTD. The quarterly vat returns could include a summary for each month. This would stop people avoiding paying vat for 2-3 quarters.

[vetran]

Can’t they got after Directors/shareholders in such case?

“ A legal charge was later placed on the EastEnders star's home to ensure she repaid the money, the Mirror reported.

She returned a total of £60,000, but much of this went to cover legal fees.

Wallace ended up with enough cash to pay back around £27,000 of the £69,614 owed to HMRC, it was said.”

They have had Lawyers chasing her since 2015 how much do you think that costs.

[AtW]

Personally I would make VAT payments monthly for at first large organisations and then smaller LTD.

Ehh, feck that! Better put in jail those who don’t pay it

[vetran]

Ehh, feck that! Better put in jail those who don’t pay it

No better collect it more frequently so we lose less money. Prosecution costs a lot of money.

One assumes you pay a few bills monthly, one bank transfer a month to HMRC is hardly an issue.

[AtW]

One assumes you pay a few bills monthly, one bank transfer a month to HMRC is hardly an issue.

The issue isn’t bank transfer, but doing full VAT accounting every month, it’s only easy if you do one invoice with VAT and don’t have other transactions.

[vetran]

The issue isn’t bank transfer, but doing full VAT accounting every month, it’s only easy if you do one invoice with VAT and don’t have other transactions.

You mean you don't know your financial position daily if you turn over > £2M no wonder so many companies go bust.

you enter supplier & customer invoices daily and then your accounts system spits out a figure at the end of the month to pay HMRC which will be probably 1/3 of the vat bill for the quarter, you settle up at the end of the quarter with a vat100, If you have an extreme month you make a note on the Vat return.

[Paddy]

Ehh, feck that! Better put in jail those who don’t pay it