Back duty refers to an amount of tax that should have been paid in previous years but was not due to the taxpayer’s failure to disclose full income details to HM Revenue. An inspection and enquiry process reveals these unpaid taxes, often attracting interest and penalties.
A company resident in the UK that is under the control of five or fewer participators or any number of participators who are also directors.
An estimated assessment is a tax assessment raised by HM Revenue based on estimated profits or income of a taxpayer, often derived from the previous period's assessment.
