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 2019 at £180,000 and pays this sum on 1 May 2020. The company is not large for the purpose of payment by instalments.
Despite being issued with a notice by HMRC in August 2019, the company fails to submit its return for the year to 31 July 2019 until 31 March 2021. The corporation tax liability for the year was finally assessed at £207,000. 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 27000 was ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
2+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
