Agent Update published

The latest roundup of news for advisers  Agent Update 64  has an array of articles including on the requirement to correct – taxpayers with overseas interests; the fulfilment house due diligence regime; paying corporation tax; and termination payments.

Summaries of other articles follow but for details see here.

Notifying HMRC when a client company becomes active

Companies must notify the Revenue within three months of becoming active (see HMRC’s guidance Corporation Tax: trading and non-trading).

HMRC will need the date the company became active and the date to which the annual accounts will be made up to ensure the correct notice to file is issued. This will also minimise delays when returns are received and also prevent incorrect late filing penalties being issued.

Agents can send this information electronically by accessing the tax registration online service from the ‘your HMRC services’ pages once logged in to the HMRC online service...