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Alice prepares annual accounts to 31 March. The tax adjusted trading profit, for the year ended 31 March 2013, was £600,000. She had the following additional income and expenses for the year:
(a) UK dividends of £18,000 were received.
(b) Rent from letting a surplus retail shop at £3,000 per month. Because of cash flow difficulties, the tenant did not pay the rent due for March 2013 until July2013.
(c) Bank deposit interest of £10,000 was received. Interest accrued at 31 March 2013 was £1,800.
(d) Payments under the Gift Aid scheme of £3,000 to a UK charity that supports musicians who have fallen on hard times because they are unable to work.
Alice needs to know her tax liability for the year together with the dates by which this tax should be paid and the company’s tax return received by HMRC.
For the last two years the company’s tax return has been 13 months late. Alice is also asking for your advice on the penalties that will be imposed by HMRC if this year’s company tax return is again 13 months late. Include simple calculations to support your answer.
Could you please help me with this questions ?
(a) UK dividends of £18,000 were received.
(b) Rent from letting a surplus retail shop at £3,000 per month. Because of cash flow difficulties, the tenant did not pay the rent due for March 2013 until July2013.
(c) Bank deposit interest of £10,000 was received. Interest accrued at 31 March 2013 was £1,800.
(d) Payments under the Gift Aid scheme of £3,000 to a UK charity that supports musicians who have fallen on hard times because they are unable to work.
Alice needs to know her tax liability for the year together with the dates by which this tax should be paid and the company’s tax return received by HMRC.
For the last two years the company’s tax return has been 13 months late. Alice is also asking for your advice on the penalties that will be imposed by HMRC if this year’s company tax return is again 13 months late. Include simple calculations to support your answer.
Could you please help me with this questions ?