Fines for Late not notifiying HMCE of company set up?

Rachel

Hello

Does anybody know how much the fine will be for not notifying HMCE of a company being formed and trading within the 3 months? I am about to prepare the CT41G but I would like to advise my client of the fine but cannot find any details.

My understanding is that on incorporation CH inform HMCE and they send a pack out within 6 weeks. My client says that he never received this and only knew of the deadlines to file accounts with CH.

Has anyone been in this situation before?

Thanks for reading and I look forward to your responses.

Rachel

deanshepherd

The penalty for not notifying HMRC within 3 months of a company beginning to trade is £300 and further penalties of up to £60 per day if the failure continues. Up to £3,000 if failure was fraudulent.

That said, I have never seen one of these penalties actually imposed when the corporation tax return has been filed on time so I am not sure what their current policy is on enforcing these penalties.

Rachel

Thanks for your response Dean it is much appreciated.

The company so far has only incurred costs so hopefully they will be leniant.

Rachel