Just incorporated, need help with registering with HMRC

[Nublust]

So I incorporated on the 29th of January with a formation agency. Since then I have had no letters from companies house, I was under the impression they would send me some codes or something to do with tax?

Anyway, I'm a bit confused as to what I need to do registering for self assessment, corporation tax and anything else to be honest. I called up the HMRC self assessment help-line who said I should actually be talking to someone from their sole trader helpline and then corporation tax helpline to set everything up.

Corporation tax line is closed weekends, so I called the sole trader line. They then told me I shouldn't be talking to them, I need to talk to someone from companies house who are also closed at the weekend.

Can anyone experienced tell me who exactly I need to call, what I need to register for, what I need to fill in, etc etc please? After today I'm very confused :|

Cheers

 

[faradaykeynes]

Relax , you will get Corporation tax reference in post in few days. Also companies house authentication code to company's registered office address.
Once you get CT ref, you can register on HMRC site for CT filing and company accounts along with other taxes if applicable like VAT, PAYE etc

 

[Nublust]

Oh good, I was worried an official was going to knock on my door and slap a fine on me for not doing something haha.

I assume I'll be able to register for self assessment as well then when I have the CT ref?

 

[Scalloway]

You don't need to register for self assessment if you are going to trade through a limited company.

 

[Nublust]

I was going off what it says on the HMRC website and the gov.uk site? Can't post actual links yet.

 

[Scalloway]

HMRC say that but there is no legal obligation for a company director to submit a tax return unlees you expect your taxable income to bring you into the 40% tax bracket.

 

[Nublust]

So if I pay myself PAYE for the taxable limit, then dividends after that how will I be taxed?

Sorry if this is an obvious answer but I've never done anything like this before :redface:

 

[faradaykeynes]

Generally as long as your total taxable income is within basic rate band there wont be any tax on dividends, if you go above it then there will be extra tax on your dividends

 

[Scalloway]

If you pay yourself at the PAYE taxable limit there will be a small amount of NI to pay. This will ensure your continuing entitlement to state benefits so it is worthwhile to keep your salary above the NI Lower Earnings Limit.

 

[Nublust]

Alright cool, thanks for the help!

 

[Nublust]

Sorry, possibly another stupid question!

So the letter with the company unique tax payer reference came today so I have gone online to register for CT and PAYE. Now I wont actually be paying myself for a while because for a few months there will be very little money actually coming into the business and I'd rather keep it in than take it as a salary.

On the registration though it is asking me to put the past date, or future date that I made payments or provided benefits to employees. What should I put here? Does it matter if I put tomorrow, for instance, even though I wont actually be paying myself anything?

 

[faradaykeynes]

you can register for PAYE later if you like

 

[Nublust]

See now you've said it, it's obvious. Oh dear . Thanks again!