I am a Geotechnical Engineer and have been trading as a limited company for 12 years (one man band). Due to the recession I havent had any work for over a year now. I still owe a lot of corporate tax and the tax man has given me 6 weeks to pay up in full. Basically I dont have the money to pay them. Question is can the tax man still send in the bailiffs if I dissolve the company. Is there any other ways of avoiding paying this tax?
Is there any other ways of avoiding paying this tax?
A question first. Why is the company unable to pay? Was salary extracted in preference to provision for corporation tax? If so, has the company paid the PAYE/NICs arising?