Coronavirus is affecting the profits of most companies. Some will, unfortunately, become loss making.
HMRC is quite readily allowing time to pay arrangements for corporation tax. A quick telephone call usually results in an extension of up to three months, if you owe tax.
But, if your company hasn’t made a profit, the extension isn’t much help.
If you need more details about how to apply for a “time to pay” arrangement, contact us – enquiries@centralbusiness.co.uk
Last year
If you made a profit last year, and paid tax (or still owe it) and you’ve made a loss this year, your loss for this year can be offset against last years’ profit and can either result in money being repaid to you or your debt being reduced or eliminated.
This is a definite incentive to get your company accounts in sooner, rather than later.
Even if you don’t have all of the information you need, we would prefer to start working on your accounts so that we can finish them as soon as possible and get you a refund if possible.
Our staff are still working, mainly at home. Responses may not be as quick as usual but you will get a response.
Contact us by all the usual methods:
Telephone – 01509 816150
Julia – one of our Advisers
email – enquiries@centralbusiness.co.uk
Webform – below
Documents can still be delivered to us. There is a post box outside the building where documents can be posted. We check it every day and many clients are finding this useful.
If you have too much to put into the box, you can contact us and drop it into reception. Our reception area is large enough to be able to observe social distancing guidelines and there is an opportunity to have a brief chat.
We want to help you and ensure your business comes out of the current crisis strong and healthy.
