Shall I bother waiting longer for CT refund? Shall I bother waiting longer for CT refund?
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  1. #1

    Fingers like lightning


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    Default Shall I bother waiting longer for CT refund?

    The company closure process has been dragging on for 6 months.
    It's now been 15 weeks since the accountant filed the necessary returns stating that a £680 Corporation Tax refund is due from HMRC.

    If that was received and then paid to me personally together with any other leftover funds, I would be keeping an extra £680 x (1-10%) = £612

    Note: Accountant isn't charging any monthly fees while this is going on.


    Is it worth keeping the company open and waiting for this refund for the sake of £612?
    Or would you just write it off, submit a DS01 and close the company so that you can forget about everything?

  2. #2

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    ladymuck's Avatar
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    I'm assuming in those 15 weeks someone has contacted HMRC to ask about progress of the refund?

  3. #3

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    Quote Originally Posted by ladymuck View Post
    I'm assuming in those 15 weeks someone has contacted HMRC to ask about progress of the refund?
    I suspect that may be an assumption too many.
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  4. #4

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    Quote Originally Posted by ladymuck View Post
    I'm assuming in those 15 weeks someone has contacted HMRC to ask about progress of the refund?
    Twice I've chased the accountant and he's said he's chased HMRC. Sometimes he's wasted an hour waiting on the phone only to then hear the automatic "we're too busy to answer" message.

  5. #5

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    Pick up the phone yourself. Be part of the solution, not part of the problem.
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    Quote Originally Posted by PTP View Post
    Twice I've chased the accountant and he's said he's chased HMRC. Sometimes he's wasted an hour waiting on the phone only to then hear the automatic "we're too busy to answer" message.
    Um, given that the accountant isn't charging you surely that is something you could and should be doing yourself (as Scruff says).
    Last edited by eek; 27th October 2020 at 07:38. Reason: Scruff beat me to it.
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  7. #7

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    Quote Originally Posted by eek View Post
    Um, given that the accountant isn't charging you surely that is something you could and should be doing yourself (as Scruff says).
    Ummm .... It hasn’t been free - there were upfront costs ;-)

    What I said was there aren’t any ongoing monthly costs - as they would otherwise be an obvious factor in the decision.
    Last edited by PTP; 27th October 2020 at 08:48.

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    Quote Originally Posted by PTP View Post
    Ummm ������ It hasn’t been free ������

    There were upfront costs. What I said was there aren’t any ongoing monthly costs - as they would otherwise be an obvious factor in the decision.
    There is still no money being paid for the hour that the accountant is spending on the phone.

    So it won't be a priority for him to do anything if paid work is available.

    Just chase it up yourself...
    merely at clientco for the entertainment

  9. #9

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    Same as what everyone else has said. I think if someone owed me over £600 I wouldn't be sitting around waiting for it to appear..
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  10. #10

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    Get a refund or interest on your Corporation Tax - GOV.UK

    Refunds
    Use your Company Tax Return to tell HMRC if you think you’re due a Corporation Tax refund (known as a ‘repayment’) and how you want it paid.

    You can either:

    get it paid directly to your company’s bank account or someone else’s account - include the account number and sort code on every tax return you file


    It was a very long time ago, but I believe I had a company tax refund paid directly to me in a past life: HMRC sent me a cheque for the company and I called and told them the company didn't exist any more, and asked them to re-send the cheque in my name.

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