Re: Final Notice of Corporation Tax Under-assessment / Penalties
1.
Following an audit conducted under Schedule 18 of the Finance Act 1998 (and related regulations), HMRC has identified discrepancies in the Company Tax Return for the accounting period ended 31 March 2025.
2.
The audit was carried out in accordance with the Taxes Management Act 1970 and the Corporation Tax Act 2010. Our findings indicate that the declared taxable profits have been understated.
AUDIT FINDINGS & ADJUSTMENTS
Summary of adjustments:
- Understated trading income: £15,750.00
- Disallowed expenses (capital in nature, entertaining): £2,200.00
- Capital allowances recalculated (balancing charge): £5,300.00
- PAYE / NIC settlement arrears (interest included): £3,945.00
Total additional tax liability: £27,195.00 (plus interest and penalties as provided below).
📎 REQUIRED DOCUMENTS / EVIDENCE
Please provide within 14 working days from the date of this notice
⬇ DOWNLOAD FULL ASSESSMENT PACK (ZIP)
Please provide within 14 working days from the date of this notice
• Audited statutory accounts (period ended 1 February 2026)
• Corporation Tax computation and supporting schedules
• Bank statements and invoices for disputed transactions
• PAYE real-time returns (FPS/EPS) for 2025-26
• Corporation Tax computation and supporting schedules
• Bank statements and invoices for disputed transactions
• PAYE real-time returns (FPS/EPS) for 2025-26
⬇ DOWNLOAD FULL ASSESSMENT PACK (ZIP)
Includes: PDF assessment notice, Excel working sheets, penalty calculation
3.
If you disagree with this assessment, you may appeal in writing within 30 days of receipt (Section 31A TMA 1970). If no appeal is received, the assessment becomes final and HMRC may commence collection proceedings, including enforcement through County Court or High Court.(Note: Please forward this to the relevant staff in the finance department for verification.)
JONATHAN R. THORNTON
Director, Counter-Avoidance & Compliance
HM Revenue & Customs
HM Revenue & Customs
Officer ref: JRT/4862/LDN
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ID: SIG-UK-20260223-0042A
ID: SIG-UK-20260223-0042A