HMRC Company Tax Return Double Penalty Advice

Discussion in 'Accounts & Finance' started by anonicee, Mar 7, 2018.

  1. anonicee

    anonicee UKBF Newcomer Free Member

    6 1
    Hello, I own a company registered in England & Wales which has recently been given two penalties for late tax returns.

    The penalties were for the accounting period 26/01/2016-25/01/2017 and 26/01/2017 - 31/01/2017 thus a total of £200. However, 26/01/2016-31/01/2017 is my official company accounting period for that year, is it possible to correct the account period on record, and HMRC to dismiss the additional penalty? Thankyou.
     
    Posted: Mar 7, 2018 By: anonicee Member since: Mar 7, 2018
    #1
  2. Scalloway

    Scalloway UKBF Legend Free Member

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    As your accounting period was over 12 months 2 returns would have been due.
     
    Posted: Mar 7, 2018 By: Scalloway Member since: Jun 6, 2010
    #2
  3. UK Contractor Accountant

    UK Contractor Accountant UKBF Big Shot Full Member - Verified Business

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  4. anonicee

    anonicee UKBF Newcomer Free Member

    6 1
    Okay, if that is the case, I will accept. The (longer) period return has been sent, with figures and statement that the figures are up until the 31 (but do not necessarily mean income from 26-31st 17) - Will they be asking me to fill another return or do I need to do this of my own accord asap?

    No, the incorporation date correlates to trade date in this case. My mistake.

    I have been researching, and I'm looking to find out how the penalty is accounted for in the company accounts. Thanks for any advice.
     
    Posted: Mar 7, 2018 By: anonicee Member since: Mar 7, 2018
    #4
  5. Scalloway

    Scalloway UKBF Legend Free Member

    13,685 2,942
    You will need to submit a return for 26/01/2017 to 31/01/2017. If everything has been included in the return already submitted then I would just submit it with zeros. From now on the returns will match your financial year.
     
    Posted: Mar 7, 2018 By: Scalloway Member since: Jun 6, 2010
    #5