HMRC Admin 20 Response

Hi Laura,
The company is required to submit full statutory accounts and computations with a CT600 return until the date of cessation.
Once the company has ceased trading please contact us to update the record.
Thank you.

Hi ItsBeenOneOfThemDays,
Please review guidance below regarding allowances available for your personal vehicle:
HS252 Capital allowances and balancing charges 2023
Claim tax relief for your job expenses
 if you require further advice on this matter, please seek professional help through a financial advisor or accountant.
Thank you.

 

Hi QQask,
Please see the below guidance regarding what constitutes a participator and the application of s455 tax:
CTM61500 - Close companies: loans to participators and arrangements conferring benefit on participator:
if you require further advice on this matter, please seek professional help through a financial advisor or accountant.
Thank you.

Hi Liz,
Please see the below guidance regarding general and specific deductions: 
BIM40000 - Measuring the profits (specific rules & practices) - receipts & deductions: contents
if you require further advice on this matter, please seek professional help through a financial advisor or accountant.
Thank you.

Hi silvnic,
In general, a UK company can deduct the cost of providing health insurance for their employees as a business expense, which can be offset against their profits for tax purposes.
The cost of the premium is declared to HMRC on a form P11D,  which is a statement of the employee’s untaxed benefits.
Further guidance can be found at  Tax on company benefits.
Thank you.

 

Hi Red2024 Zhai,
Please contact the VAT helpline on 0300 200 3700 who can then look into this for you.
Thnak you.

Hi Amazo,
Please refer to section 1.1 of notice 700/41.
This explains that the late registration penalty notice is applicable if a business was liable to register before 1 April 2010. After this date the failure to notify penalty took over.
Thank you.
 

Hi Edyta B,
The C79 should only be produced when a VAT registered EORI number has been used on the import declaration.
A company is entitled to recover import VAT as input tax prior to their registration date if those goods are still on hand at the date of registration and the import evidence is available.
Please see the guidance below:
https://www.gov.uk/guidance/vat-guide-notice-700#section11
Thank you.

 

Hi Sally Galbraith,
A taxable person is a person or entity who, is or required to be, VAT registered.
So if a trader exceeds the threshold at the end of January then they would become a taxable person on that date and then become VAT registered with an effective date on 1st March.
Is there a reason why the date the person becomes a taxable person significant?
Thank you.

 

Hi DOROTA1972,
Please see section 7.6 of the following guidance :
VAT guide (VAT Notice 700) 7. Introduction to output tax
Thank you.