Saqib L - P&a Companies

Front 1

CT600 TAX RETURN MUST BE FILED BY WHEN?

Back 1

-12 MONTHS FROM END OF PERIOD OF ACCOUNT

- 3 MONTHS FROM THE DATE OF NOTICE

Front 2

PENALTIES FOR LATE FILING-
IMMEDIATE PENALTY IS?

Back 2

£100

Front 3

PENALTIES FOR LATE FILING-
A DELAY OF MORE THAN 3 MONTHS WILL RESULT IN WHAT PENALTY?

Back 3

£10 PER DAY
MAX 90 DAYS (£900)

Front 4

PENALTIES FOR LATE FILING-
A DELAY OF MORE THAN 6 MONTHS WILL RESULT IN WHAT PENALTY?

Back 4

5% OF TAX DUE

MIN OF £300

Front 5

PENALTIES FOR LATE FILING-
A DELAY OF MORE THAN 12 MONTHS WITH NO DELIBERATE WITHHOLDING OF INFORMATION WILL RESULT IN WHAT PENALTY?

Back 5

5% OF TAX DUE

MIN OF £300

Front 6

PENALTIES FOR LATE FILING-
A DELAY OF MORE THAN 12 MONTHS WITH DELIBERATE WITHHOLDING OF INFORMATION WILL RESULT IN WHAT PENALTY?

Back 6

70% OF TAX DUE

MIN OF £300

Front 7

PENALTIES FOR LATE FILING-
A DELAY OF MORE THAN 12 MONTHS WITH DELIBERATE WITHHOLDING OF INFORMATION AND CONCEALMENT WILL RESULT IN WHAT PENALTY?

Back 7

100% OF TAX DUE

MIN OF £300

Front 8

HOW LONG DO COMPANIES HAVE TO AMEND A RETURN?

Back 8

12 MONTHS FROM THE FILING DATE

Front 9

HOW LONG DO HMRC HAVE TO AMEND A RETURN FOR OBVIOUS ERRORS?

Back 9

-9 MONTHS FROM FILING DATE

-9 MONTHS FROM THE DATE A AMENDMENT WAS FILED

Front 10

COMPANIES CAN REJECT A HMRC AMENDMENT, HOW LONG DO THEY HAVE TO DO THIS?

Back 10

- THE NORMAL TIME LIMIT FOR AMENDMENTS

IF EXPIRED THEN

- 3 MONTHS FROM DATE OF CORRECTION

Front 11

A COMPANY CAN MAKE A CLAIM FOR TAX WHICH THEY BELIEVE WAS NOT DUE, HOW LONG DO THEY HAVE?

Back 11

4 YEARS FROM END OF ACCOUNTIONG PERIOD

Front 12

AN APPEAL AGAINST HMRCS DECISION TO REFUND A CLAIM CAN BE MADE WITHIN WHAT TIME?

Back 12

WITHIN 30 DAYS

Front 13

INTEREST IS CHARGED ON LATE PAID TAX, FROM WHAT PERIOD?

Back 13

FROM THE DUE DATE TO DATE OF PAYMENT

Front 14

INTEREST IS PAID ON OVERPAID TAX, FROM WHAT PERIOD?

Back 14

FROM THE LATER OF NORMAL DUE DATE AND DATE OF OVERPAYMENT TO DATE IT WAS REFUNDED

Front 15

PENALTIES FOR INCORRECT RETURNS-
THE PENALTY FOR A MISTAKE IS?

Back 15

NO PENALTY

Front 16

PENALTIES FOR INCORRECT RETURNS-
THE PENALTY FOR FAILURE TO TAKE REASONABLE CARE IS?

Back 16

30% OF TAX LOST

Front 17

PENALTIES FOR INCORRECT RETURNS-
THE PENALTY FOR DELIBERATE UNDETSTATEMENT IS?

Back 17

70% OF TAX LOST

Front 18

PENALTIES FOR INCORRECT RETURNS-
PENALTY FOR DELIBERATE UNDERSTATEMENT WITH CONCEALMENT IS?

Back 18

100% OF TAX LOST

Front 19

PENALTIES FOR INCORRECT RETURNS-
THE PENALTY FOR FAILURE TO TAKE REASONABLE CARE IS (UNPROMPTED)?

Back 19

JUST FIRST 30% OF TAX LOST

Front 20

PENALTIES FOR INCORRECT RETURNS-
THE PENALTY FOR FAILURE TO TAKE REASONABLE CARE IS (PROMPTED)?

Back 20

FIRST 30% AND EXTRA 15% OF TAX LOST

Front 21

PENALTIES FOR INCORRECT RETURNS-
THE PENALTY FOR DELIBERATE UNDETSTATEMENT IS (UNPROMPTED)?

Back 21

FIRST 70% AND EXTRA 20% OF TAX LOST

Front 22

PENALTIES FOR INCORRECT RETURNS-
THE PENALTY FOR DELIBERATE UNDETSTATEMENT IS (PROMPTED)?

Back 22

FIRST 70% AND EXTRA 35% OF TAX LOST

Front 23

PENALTIES FOR INCORRECT RETURNS-
PENALTY FOR DELIBERATE UNDERSTATEMENT WITH CONCEALMENT IS (UNPROMPTED)?

Back 23

FIRST 100% AND EXTRA 30% OF TAX LOST

Front 24

PENALTIES FOR INCORRECT RETURNS-
PENALTY FOR DELIBERATE UNDERSTATEMENT WITH CONCEALMENT IS (PROMPTED)?

Back 24

FIRST 100% AND EXTRA 50% OF TAX LOST

Front 25

HMRC COMPLIANCE CHECKS-
WHEN RETURN IS FILED ON TIME HOW LONG DO HMRC HAVE TO GET THE NOTICE?

Back 25

12 MONTHS OF ACTUAL FILING DATE

Front 26

HMRC COMPLIANCE CHECKS-
WHEN RETURN IS FILED LATE HOW LONG DO HMRC HAVE TO GET THE NOTICE?

Back 26

WITHIN A YEAR OF THE 31 JAN, 30 APR, 31 JUL OR 31 OCT FOLLOWING THE ACTUAL DATE RETURN WAS FILED

Front 27

HMRC COMPLIANCE CHECKS-
HMRC CAN DEMAND A COMPANY TO PRODUCE DOCUMENTS FOR INSPECTION, FAILURE TO DO SO WILL RESULT IN WHAT PENALTY?

Back 27

£300 PLUS £60 A DAY

Front 28

RECORD KEEPING-
COMPANIES MUST KEEP RECORD FOR HOW LONG?

Back 28

UNTIL THE LATEST OF
- SIX YEARS FROM END OF ACCOUNTING PERIOD
- DATE OF ANY EQUIRES ARE COMPLETED
- THE DATE AFTER NO MORE ENQUIRES CAN COMMENCE

Front 29

RECORD KEEPING-
FAILURE TO KEEP RECORD CAN RESULT IN WHAT PENALTY?

Back 29

£3000 FOR EACH PERIOD AFFECTED

Front 30

PAYMENT OF TAX-
HOW LONG DO COMPANIES NORMALLY HAVE TO PAY TAX?

Back 30

9 MONTHS AND 1 DAY

Front 31

PAYMENT OF TAX-
LARGE COMPANIES HAVE TO PAY IN INSTALLMENT OF PROFITS EXCEED THE UPPER LIMIT, BUT DONT HAVE TO IN WHAT EXEPTIONS?

Back 31

-IF IN FIRST PERIOD OF BEEN LARGE AND PROFIT DONT EXCEED 10 MIL

- IF QUARTERLY INSTALLMENT DONT EXCEED £10000

Front 32

PAYMENT OF TAX-
WHEN ARE INSTALLEMT PAYMENTS MADE?

Back 32

- FIRST PAYMENT IS 14TH OF 7TH MONTH

- OTHER PAYMENTS ARE DUE ON THE 14TH DAY OF MONTHS 10, 13 AND 16

MONTHS ARE FROM START OF PERIOD