Home For AAT student members AQ 2013 AAT Level 4 (Level 8 in Scotland)

Corporation tax

PrimblePrimble Experienced MentorRegistered Posts: 734
Hi

What are the penalties of late payment of corporation tax?

Comments

  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    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
  • PAMDILLPAMDILL Experienced Mentor Registered Posts: 718
    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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