Corporation tax

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Primble
Primble Registered Posts: 734 Epic contributor 🐘
in AAT Level 4 (Level 8 in Scotland)
Hi

What are the penalties of late payment of corporation tax?

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  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    I had a quick google and all I can see is that they charge you interest.

    I can't believe this is all they'd do - and as a MiP I ought to know (but then all my clients are good boys and girls so far!! :lol:)

    http://www.hmrc.gov.uk/ct/problems/cant-pay-dont-pay.htm
  • PAMDILL
    PAMDILL Registered Posts: 721 Epic contributor 🐘
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    I have never worked for a limited company who have paid Corp tax on time yet! They charge you daily interest and eventually get fed up, send you a final demand which if you do not pay on time then goes Sherriff Officers route (in Scotland, don't know english equivalent) at that point you start incurring their fees and charges.

    I still have some sitting that were due in December 08 and have only had one notice of late payment so far.

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