London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

HMRC penalty on accounts presentation?

In a recent tax case (Goodtime Print & Design Ltd v HMRC), a company submitted accounts without including a directors’ report.  HMRC imposed penalties on the basis that the company’s accounts failed to comply with the Companies Act.  

HMRC may require accounts to be accompanied by ‘such documents as are required to be prepared under the Companies Act’.  This includes a directors’ report, the preparation of which is required by the Companies Act even for small companies which are not required to file such reports with the Registrar of Companies.

The company appealed but lost.  The Tribunal upheld HMRC’s opinion.



Date: 16th November, 2012
Author: Cathy Corns


Articles from this Author

20th March, 2018
Beneficial loans

20th March, 2018
IR35 consultation

20th March, 2018
Tax codes

25th October, 2017
R&D changes see 22% increase in claims by SMEs

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.


Disruption in distribution click on the link to read how Corporate Advisory Partner, Henry……

Vendor assistance and vendor due diligence click on the link to read Corporate Finance Dire……



For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn