Have you ever had your Ltd Company audited? Have you ever had your Ltd Company audited?

View Poll Results: Have you ever had your LTD company audited

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  • Yes

    7 15.22%
  • No

    39 84.78%
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  1. #1

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    Default Have you ever had your Ltd Company audited?

    Lots of posts recently concerning expenses, contracts within or outside IR35,travel, mobile phones etc! Lots of posters stating 'Watch out if you get audited!', 'You need to justify X/Y etc'

    Had a LTD for 13 years. Never got audited.

    Had a shop LTD for 7 years. Never been audited.

    So not going to get into the ins/outs of what/how much & whether you can justify your expenses/paperwork etc.

    Simple question.

    Have you ever had your LTD company audited?

    BTW. If you do click yes. Can you explain what happened?
    Last edited by MarillionFan; 12th April 2010 at 17:44.

  2. #2

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    Being a foreigner each company I have an interest in gets audited every year.

    I've now got a room special for them to use they're here so much.

    There again, it's a really nice room, lovely views over my lake, and the housekeeper loves to cook and make finger food, snacks, etc. I've been told: nicer than their office.
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  3. #3

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    Quote Originally Posted by threaded View Post

    I've now got a room special for them to use they're here so much.

    There again, it's a really nice room, lovely views over my lake, and the housekeeper loves to cook and make finger food, snacks, etc. I've been told: nicer than their office.


    Threaded, at least make an effort to make these fantasies remotely plausible otherwise we'll be calling for you nurse sharpish.

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    Had a trading Ltd co audited after about 4 yrs

    Turned out a director had been massively underestimating the value of his Mondeo (and overstating his mileage) and they'd picked up on it..

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    Had my 'NI' audit. (AHV). Accountant handled it. Usually they're done every four years. The told my accountant it'll be more like eight in our case.
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    Audited? By who, HMRC or some other body?

    Or are you talking 'tax investigation'?

    Had 3 Ltd co's for contracting and another for a store based business. In over 13 years, I havent had a company 'audited.'

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    Quote Originally Posted by BolshieBastard View Post
    Audited? By who, HMRC or some other body?

    Or are you talking 'tax investigation'?

    Had 3 Ltd co's for contracting and another for a store based business. In over 13 years, I havent had a company 'audited.'
    Well that's the question!

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    I said yes, but I mistook the question. I've had a few "VAT inspections", and Inland Revenue enquiries (what sort of business do you run?) but not a full blown audit.

    I just put HMRC in touch with threaded. He can never remember how many companies he's got so he handles them all.

  9. #9

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    Maybe I should have fine tuned this a little more.

    Of those, who ticked yes. Has HMRC ever challenged you on whether a contract was in or ourside IR35?

    (might have to repost a poll later in the week)
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  10. #10

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    Been investigated for IR35 like a lot of other people here. That totally changed my attitude about the taxman forever.

    Not had a VAT inspection for over 20 years.

    Had a couple of HMRC queries - one where my accountant undervalued my company car but it was a genuine mistake and I paid with good grace - so there were looking at my expenses to spot that one.

    These days I have minimum expenses etc and I'm on the fixed-rate scheme, plus all my contracts are OK so nothing to see here.
    ...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...

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