Accounting period ?

[eu.solitaire]

My LTD company was incorporated on 18/11/2008.

The accounting reference date is 30/11.

Now, I want to filing my company tax return to HMRC/Tax Office, but I don't know the accounting period, from which I will pay the tax 21% - from my profit.

My year turnover is around 7750 GBP, the profit is around 1550 GBP - the tax is 325 GBP (21%).

There are two ideas:

1) 18/11/2008 - 17/11/2009

or

2) 18/11/2008 - 30/11/2009

Thank you for help.

[Jenni384]

Annual Accounts: 18/11/2008 - 30/11/2009

Yuo need two tax returns, as a CT 600 cannot be over 12 months:
18/11/2008 - 17/11/2009
18/11/2009 - 30/11/2009

Are you happy that you've produced full accounts in the statutory format?

Remember you have to submit abbreviated accounts to Companies House too.

[elainec100@cheapaccounting]

Annual Accounts: 18/11/2008 - 30/11/2009

Yuo need two tax returns, as a CT 600 cannot be over 12 months:
18/11/2008 - 17/11/2009
18/11/2009 - 30/11/2009

Are you happy that you've produced full accounts in the statutory format?

Remember you have to submit abbreviated accounts to Companies House too.

Then this needs to be split between FY as well for CT purposes - see the CT600.

Unless you really know what you are doing then a CT600 is a job for an accountant.

I have yet to see one done correctly by a non accountant and have spent a lot of time correcting errors on incorrect ones!

Good luck though

[Wild Goose]

My LTD company was incorporated on 18/11/2008.

The accounting reference date is 30/11.



Did your company really start trading or receiving income from its incorporation date?

If eg it commenced operations on 1st December 2008 (or later) you could just submit dormant accounts for the initial non-trading period (see form DCA at Cos House website) and thereby cut the initial accounting period to 12 months (or less) 1st Dec '08 (or later) to 30 Nov '09. That way you keep the tax returns down to 2. HMRC won't be interested in the dormant accounts period.

Agree with the girls though - don't be a tight wad all your life; have a day off, and hire an accountant. You'll get fined to death for gettin' it wrong!

[elainec100@cheapaccounting]

This depends on the date of trading advised to HMRC on the CT41G - needed to be filed 3 months after starting to trade.

[Wild Goose]

CT41G - needed to be filed 3 months after starting to trade.

Otherwise fines start @ £300 - Ouch!! Up to £3k for fraudulent or negligent information - so take Elaine's advice and ensure the date you started trading on your CT41g correspond with the start date in your accounts. Otherwise - more ouch!!

See what we mean? Get an accountant - you know it makes sense!

[elainec100@cheapaccounting]

Agree with the girls though

See Jenni can easily be described as a girl whereas I could be described as her mother as I am nearly 20 years older than her :eek::eek:

[Wild Goose]

Oops, pardon me! :redface:

You look so young in your avatar, Elaine. Is that an old photo? - I thought the hairstyle looked a bit 'sixties. :p

[elainec100@cheapaccounting]

Oops, pardon me! :redface:

You look so young in your avatar, Elaine. Is that an old photo? - I thought the hairstyle looked a bit 'sixties. :p

cheeky bugger - photos is a couple of months old and at least I have hair :rolleyes:

Didn't think the style was old fashion - my hair dresser is going to be so annoyed at you! :eek:

Mind you the day I take hair tips of a Goose :D:D:D

[GaryMc]

http://ui06.gamespot.com/453/incomingbaby_2.jpg

[Wild Goose]

Didn't think the style was old fashion - my hair dresser is going to be so annoyed at you! :eek:


It's very retro - short, back'n sides I'd say. :cool:

Bet you had it cut in Liverpool!

[elainec100@cheapaccounting]

.

Bet you had it cut in Liverpool!

No darling - I live over the other side of the water

[Wild Goose]

That'd be the posh bit on the left, then. Bit close to Wales for comfort?

[eu.solitaire]

Thank you for your advice.

But what is complicated? I formed the company via Coddan.co.uk, they said everything is simple. They said, you don't have to worry. And now I see how everything is difficult! I have completed the accounting in Excel.

Wild Goose:
My LTD company starts trading (my first invoice / receiving money) on May 2009. Unfortunately, I haven't sent CT41G, because I didn't not know my Reference Number. I urged the HMRC and they sent the letter with Reference Number only 2 weeks ago. I had to change the address of registered office, because Coddan.co.uk agent isn't reliable. My new agent is Quick Formations Ltd, they forward the letters within 3 days. I want to send CT41G to the end of the year, you say I get fined 300 GBP?

[Wild Goose]

Wild Goose:
My LTD company starts trading (my first invoice / receiving money) on May 2009. Unfortunately, I haven't sent CT41G, because I didn't not know my Reference Number. I urged the HMRC and they sent the letter with Reference Number only 2 weeks ago. I had to change the address of registered office, because Coddan.co.uk agent isn't reliable. My new agent is Quick Formations Ltd, they forward the letters within 3 days. I want to send CT41G to the end of the year, you say I get fined 300 GBP?

OK, so that's a DCA (Dormant Company Accounts) to 30 April 2009 (see Companies House Website for form DCA for Cos that have never traded - easy stuff.

Followed by a "full" set of accounts covering the period from 1st May 2009 to your accounting date in 2009, 30th November (even if you began trading on some other date in May, rather than 1st of the month).

You're overdue on form CT41g and, according to the book, fines start @ £300. That can increase. Did you tell HMRC by phone or letter that you had commenced trading, and if so was that within 3 months of commencement? (HMRC will accept eg a written letter rather than form 41g - that came up for me on a live case just last week - but I'm not certain they would accept verbal notice).

I still say you're risking paying too much tax or possibly fines if you DIY - a good accountant would pay for themselves.

[David Griffiths]

OK, so that's a DCA (Dormant Company Accounts) to 30 April 2009 (see Companies House Website for form DCA for Cos that have never traded - easy stuff.


That's form AA02 in the brave new world of the Companies Act 2006. :)

[eu.solitaire]

Did you tell HMRC by phone or letter that you had commenced trading.

I phoned to local Tax Office North London (Middlesex) on September, because I haven't the Reference Number, and I cannot send CT41G. I received a letter from HMRC ("Important Reminder") two weeks ago and now I fill in this form.

[David Griffiths]

, because I haven't the Reference Number, and I cannot send CT41G.

That's not correct. It is not essential to have a reference number to send in the form. We've had plenty of examples over the years, where the client claims not to have received a reference or admits to having lost it. We send in the form with no reference and a covering letter and the Revenue can always trace the company from the incorporation number.

(For some years now I've incorporated all new companies with our office as the first registered office to make sure that we get the CT41G and reference and that it's dealt with. The R/O is then changed to where it should be. ;) )

[elainec100@cheapaccounting]

OK, so that's a DCA (Dormant Company Accounts) to 30 April 2009 (see Companies House Website for form DCA for Cos that have never traded - easy stuff.

Followed by a "full" set of accounts covering the period from 1st May 2009 to your accounting date in 2009, 30th November (even if you began trading on some other date in May, rather than 1st of the month).

You're overdue on form CT41g and, according to the book, fines start @ £300. That can increase. Did you tell HMRC by phone or letter that you had commenced trading, and if so was that within 3 months of commencement? (HMRC will accept eg a written letter rather than form 41g - that came up for me on a live case just last week - but I'm not certain they would accept verbal notice).

I still say you're risking paying too much tax or possibly fines if you DIY - a good accountant would pay for themselves.


Just to clarify this - to file dormant accounts to 30th April you would need to shorten the accounting reference date to 30 April.

Then file dormant accounts

Then change the ref date to 30 Nov

[elainec100@cheapaccounting]

You can even file a CT600 without a ref number as long as you have the company number - paper copy that is