I have started a Ltd company in 2011 and everything going smooth until 2012. In 2013, I took big amount on director loan and paid the whole amount by taking dividends in 2013. I have paid corporation tax and VAT for 2011. But not paid for 2012 due to no funds.
Then I have approached liquidator and went for creditors voluntary liquidation. Then liquidator gone through my books and looking for further information. He is asking why I took dividends without paying corporation tax in 2013 for the tax year 2012. Actually I took dividends to pay directors loan and cleared that. But same time I haven’t paid corporation tax (only) as there is no funds and no trading.
I am worrying that what will happen now. Any thoughts?
Then I have approached liquidator and went for creditors voluntary liquidation. Then liquidator gone through my books and looking for further information. He is asking why I took dividends without paying corporation tax in 2013 for the tax year 2012. Actually I took dividends to pay directors loan and cleared that. But same time I haven’t paid corporation tax (only) as there is no funds and no trading.
I am worrying that what will happen now. Any thoughts?
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