Admin Flashcards
1
Q
How long do you need to keep records (corp tax)
A
6yr from end of AP
2
Q
How long do you need to keep records (income tax & CGT)
A
5th anniversary 31/1 (in business)
1st anniversary 31/1
3
Q
How long do you need to keep records (VAT)
A
6yrs
4
Q
What is the penalty for failure to keep records
A
£3000
5
Q
When is CGT paid?
A
31st January
6
Q
When must companys submit CT return?
A
within 12mo
7
Q
When must HMRC give notice for a compliance check?
A
a year after the filing date
or the following quarter if late
8
Q
what are the time limits for a discovery assessment
A
not careless or deliberate - 4
careless - 6
deliberate - 20
9
Q
Can you appeal an information notice?
A
Yes
10
Q
Can you appeal an inspection notice
A
NO
