corporation tax

[geordieminx]

Before I had ds last year I had a limited company, contracting for a telecoms company.

I had a management company who delt with all my pay/tax/NI. I was advised every month what % of my wages to set aside for my tax bill.

Have recieved accounts this morning, and as suspected I am £600 short of the amount required by HM Rev and Customs (£1400 - need £2000)

Obviously I am having to going to contact them, sending the money that I have and also explaining that I dont have the rest...

Any ideas of what I can expect them to say? Is it likely that they can adjust my tzx code for next year? Even though I'm not working, only claiming £80 child benfit?

Manythanks

Corporation tax is different to income tax, the company is responsible for paying corporation tax, I seriously doubt that you can take on the liability through your PAYE code.

You could pay the £1,400 and ask for agreement to pay the rest by instalments but they will add interest.

Are you continuing with the company or having it struck off ?

I am going to strike it off as soon as I can so that I can either claim JSA or look for part time work?

Its such a huge mess, I wish I had never agreed to work like this when I started the job - I dont understand any of it.

Is it better to get it struck off?

But if the company (your employer) gives you a P45 then you will be unemployed if you are not working through your company, won't you ?.

The company will keep on incurring annual filing fees at £15 a year and fees to prepare and submit accounts each year so you do need to look into the matter.

So I should get my P45 (How do I go about giving myself one?) and then get the company struck off to avoid having to submit accounts and such like every year?

To be honest there is no chance of me going back to contracting - hopefully will get something pt for about 10% of the money I was on before

i would suggest that you ask the management company about this and see what they say about the P45 and getting rid of the company.