If i worked for a company that was making over £60,000 in sales and was not registered with the tax office would i face procecution and what would happen to the company? This is very urgent..please help..!!
2006-09-26 01:14:20 · 5 answers · asked by rgrahamh2o 3 in Business & Finance ➔ Taxes ➔ United Kingdom
The company needs to register for VAT immediately.
You as an employee are not liable for any outstanding arrears.....I presume the company is registered as a company with Companies House and does have Directors..... if it is and doesn't pay its arrears it will be wound up in due course but this will take some months from the issue of the first demand notice.
2006-09-26 01:25:59 · answer #1 · answered by nitpicker 3 · 0⤊ 0⤋
You are not liable unless you are a Director / Company Secretary.
This happens alot to companies without them realising. Just talk to the VAT man, they can be very nice if you are honest!
2006-09-26 08:17:24 · answer #2 · answered by 'Dr Greene' 7 · 0⤊ 0⤋
They usually impose fines but if it has just gone over the £60,000 PA you should register immediately as the longer you leave it the heavier the fine. It unlikely they would prosecute unless you did not pay them.
2006-09-26 08:17:52 · answer #3 · answered by philipscottbrooks 5 · 0⤊ 0⤋
No its not your fault. Now you know what to do I'd start calling up VAT office.
2006-09-26 08:26:38 · answer #4 · answered by Yoruba 3 · 0⤊ 0⤋
oh yes m8 its all your fault and they will find you, if i was you i'd be bricking it
2006-09-26 08:24:22 · answer #5 · answered by FLOYD 6 · 0⤊ 0⤋