No more annual tax return

[TheFaQQer]

So your turnover is so low that the quarterly VAT amount doesn't hit your banks daily transfer limits:

Santander's daily limit is £100k.

Meaning I'd need a quarterly VATable turnover of £500k to breach that limit.

If your company is turning over that much, what the f*** are you doing pissing about on here all day??

[eek]

Santander's daily limit is £100k.

Meaning I'd need a quarterly VATable turnover of £500k to breach that limit.

If your company is turning over that much, what the f*** are you doing pissing about on here all day??

HSBC's is £10k.... Which granted isn't an issue for quarterly VAT but is for Corporation Tax...

[GlenW]

HSBC's is £10k.... Which granted isn't an issue for quarterly VAT but is for Corporation Tax...

So don't use HSBC.

[SueEllen]

HSBC's is £10k.... Which granted isn't an issue for quarterly VAT but is for Corporation Tax...

It isn't an issue for corp tax as you can pay in more than one instalment and have been able to do so for years.

[suityou01]

It isn't an issue for corp tax as you can pay in more than one instalment and have been able to do so for years.

It's still an issue for s obviously

[SueEllen]

Tax returns are abolished just announced.

[eek]

It isn't an issue for corp tax as you can pay in more than one instalment and have been able to do so for years.

Yep, you can do that for most things including income tax, corporation tax and VAT. HMRC use total rolling figures to ensure amounts are paid..

You do know I was being vexatious. But I accept that its both a long, difficult word (well beyond your comprehension skills) and the concept is difficult to grasp (and beyond your mental capabilities)

[SueEllen]

Yep, you can do that for most things including income tax, corporation tax and VAT. HMRC use total rolling figures to ensure amounts are paid..

You do know I was being vexatious. But I accept that its both a long, difficult word (well beyond your comprehension skills) and the concept is difficult to grasp (and beyond your mental capabilities)

Well now you are just being a

[convict]

So this is the first step for all payments to be made to an account linked to your UTR, then they DD you what's left...

[MicrosoftBob]

So this is the first step for all income to be made to an account linked to your UTR, then they DD you what's left after your deemed tax bill is calculated...

FTFY