Settlement, NI and limited company

[Ltdoptions]

Spot on, they can't have it both ways.....but that hasn't stopped them on IHT, where the contradiction in logic is incomprehensible.

If you're a director, I've been advised that there's a possibility they may go after the Corp Tax via the misfeasance route. Pure greed & vindictiveness.

Time will tell on that one though. Like you, I'll defend that one to the hilt.

[QUODM]

Curious as to how your limited company was blocked from closing down?

I had a limited company, originally used for a scheme and closed it down middle of last year and no issues closing it.
Why do you think your company was blocked from closing?
In truth I had stopped using it on a scheme for a while and using a normal limited company, paying dividends etc.
Has anyone succeeded in closing down a company and had settlement figures for it?

[Iter]

Settlement, NI and limited company

My settlement is a calculation of ‘director making good’ as HMRC would put it, paying the ltd liability’s as well as personal.
Hopefully once settled then I can close the company, it’s been dormant for over 2 years.

[here4beer]

My settlement is a calculation of ‘director making good’ as HMRC would put it, paying the ltd liability’s as well as personal

hello, what was the ltd companies liability? Did you do it yourself?

[fatpug]

My settlement is a calculation of ‘director making good’ as HMRC would put it, paying the ltd liability’s as well as personal.
Hopefully once settled then I can close the company, it’s been dormant for over 2 years.

How is your settlement worded? Mine only refers to my personal PAYE liabilities but they then include a calculation of the limited companies NI (both Employees and employer).

I’m not sure what to make of it - I don’t want to settle personally then open up a can of worms for the limited company but then again the limited company is probably already on their radar.

[here4beer]

How is your settlement worded? Mine only refers to my personal PAYE liabilities but they then include a calculation of the limited companies NI (both Employees and employer).

I’m not sure what to make of it - I don’t want to settle personally then open up a can of worms for the limited company but then again the limited company is probably already on their radar.

What sort of % are they asking for? I'm settling personally PAYE too, but my limited company is still being investigated. Would be nice to know what sort of numbers I'm looking at. Thankyou

[Iter]

Settlement, NI and limited company

Depends really on what other factors are in their calculations for each tax year ie other income/ divis etc but basically including interest it’s about 40%.
I did question some of the initial calcs, they then sent me a further detailed breakdown including other settlement options.

[here4beer]

Depends really on what other factors are in their calculations for each tax year ie other income/ divis etc but basically including interest it’s about 40%.
I did question some of the initial calcs, they then sent me a further detailed breakdown including other settlement options.

and that's limited company settled, AND personal settlement? That's not toooooo bad...

[Iter]

Yes ltd NI employer/ee and personal. Tax is shown in both calcs but then effectively deducted from personal calculations as if it’s paid at source.

[here4beer]

Yes ltd NI employer/ee and personal. Tax is shown in both calcs but then effectively deducted from personal calculations as if it’s paid at source.

And that's you and your company fully settled - they're not readdressing your corp tax deductions?