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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 6826
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I am named as a director on my limited company, I added a

Customer Question

i am named as a director on my limited company, I added a second person as a director, payments came in for both of us from various sources, now the other party does not want to pay their part of the corporation tax, i am yet to file, just have the draft version for filing, what can i do ?
JA: Have you talked to a tax professional about this?
Customer: No
JA: Anything else you want the Accountant to know before I connect you?
Customer: No
Submitted: 2 months ago.
Category: Tax
Expert:  bigduckontax replied 2 months ago.

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

I am at a loss to understand why your other director should be concerned about Corporation Tax (CT). Payments to directors would reduce the company's liability to CT.

Customer: replied 2 months ago.
The company needs to pay CT, All payments received for the other director was paid straight to them as the payment came in. Am confused as the total CT is the total of both our incomes.
Expert:  bigduckontax replied 2 months ago.

With respect, impossible. The directors' emoluments would reduce the CT payable.