dissolved company

[eggman08.2008]

I had a limited company which I ran for just over 1 year then i dissolved it with companies house.

But I did not deliver the corporation tax returns.

I have called the tax office and the guy told me that I do not need to give them a tax return now. Is this correct?

(I just want to double check)

Thanks

[Ozzy]

You will need to submit a tax return for the year the company traded as there may be tax due for that period, assuming you made a profit. If you choose not to as the dissolved company is the liable party then that is up to you ;)

[elainec100@cheapaccounting]

As the company is dissolved there is nothing to do.

What should have happened is that all the accounts and CT return should have been submitted before it was dissolved.

If there was tax due you should have informed HMRC before you dissolved the company as they could then prevent it being dissolved until the taxes were paid.

This is a huhe loop hole which HMRC are aware of.

Basically you can set up a company, trade for a bit, makes some money, dissolve company and pay no tax!

There are some that do !!!

Maybe HMRC should have a look at closing the loop hole rather than income splitting, IR35 etc where they are at least getting some taxes from those businesses :rolleyes::eek::eek:

Just a thought :p

[jessicat79]

hi there,

just found this thread via google... I am in the same position, rather embarrasingly.

i only realised that HMRC hadn't received/processed/whatever my last corp tax return when I received a penalty notice. i thought it was for LATE submission so I paid it, only to receive another one!

...so then speaking to HMRC it appears it was for non-submission.

my company has literally dissolved today, having not traded for several months. how do I best approach this now?

ignore penalty charge request and any subsequent letters until they realise the company has been dissolved or call them again and inform them... I feel awkward as I literally just spoke to them about it to clarify the situation, I didn't realise the dissolution had processed at the time of the call (blush)

thanks!

[elainec100@cheapaccounting]

Call / write to them and explain the situation