A company prepares accounts to 31 July each year. It calculates its corporation tax liability for the
Question:
A company prepares accounts to 31 July each year. It calculates its corporation tax liability for the year to 31 July 2016 at £180,000 and pays this sum on 1 May 2017. The company is not large for the purpose of payment by instalments.
Despite being issued with a notice by HMRC in August 2016, the company fails to submit its return for the year to 31 July 2016 until 31 March 2018. The corporation tax liability for the year was finally assessed at £206,000. Calculate the penalties that would be charged.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
The return was submitted eight months late and tax of 26000 was ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
2+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
