Barry Potter and David Roche discuss HMRC’s new guidance on mandatory online filing at the end of a company’s life
Issue 24 of HMRC’s Agent Update includes guidance on the completion of company tax returns:
HMRC have released their twentieth and final ‘toolkit’, dealing with business profits. The toolkits are designed to help tax agents and their clients reduce errors in completion of tax returns.
More than £25 billion of tax was ‘under consideration’ in HMRC’s Large Business Service (LBS) enquiries at 31 March 2011, but the department emphasised that the estimate did not represent tax owed or unpaid.
Most large business ‘customers’ of HMRC continue to be satisfied with the overall service provided by the department, according to a survey conducted late last year and published last week on HMRC’s website.
Bank loans to corporate borrowers are often supported by guarantees from related companies. Lydia Challen and Tim Harrop identify the principal tax issues on the provision of such a guarantee, from its creation to its termination
Company providing rented housing – whether a charity
Company submitting unsigned accounts
HMRC have released two new toolkits for tax agents, providing guidance on areas of possible error in tax returns.
The new toolkits cover company losses and chargeable gains for companies.
The value of the retail prices index for March 2011 is 232.5.