Incentive Payments for Online Filing - HMRC refuses to pay incentives for 500 companies
Written by Ian Congreave - Filed under: Online Payments on September 21st, 2008 | No Comments »
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In 2004, Christopher Ranson and his wife set up 500 companies, giving them names ZXCV1 Ltd to ZXCV100 Ltd, and NHKL1 Ltd to NHKL400 Ltd. The accounts for each company at the end of the 2004/05 and 2005/06 tax years show receipts of £1, a payment of 78p for director’s remuneration to Mrs. Ranson and a payment of 22p in income tax. The year-end returns for each company were filed online. Mr. Ranson’s intention was to claim the financial incentives offered by HMRC to small employers for filing their returns online before it becomes mandatory to do so, namely £250 for each company for each of the 2004/05 and 2005/06 tax years.
Posted September 21st, 2008 | No Comments »
