My Ltd company made no income for last year : Can I file the return by myself?

martindow

SarahPink wrote: »

I think for the abbreviated account it will zero everywhere except expenses where I can put my mobile/internet bill and website hosting.

Are you sure these really are expenses for a business that didn't trade during the year?

im-lost

AbbieCadabra wrote: »

as per HMRC info page linked to earlier:

All companies that are required to file a return form CT600 online must file their accounts and computations in iXBRL.

i thought specific software was required to file CT600, it's not just completing a form online?

edit: looks like there's HMRC software that can be used for filing straightforward returns

Yup the hmrc download will do it all, of course you'll need all the figures prepared, it also gives the option to post your accounts to companies house, killing 2 birds with one stone, unlike the taxman to make things easy...

malc_b

The hmrc is a pdf that you fill in. They give sample accounts and have online help for what that is worth. It is a bit complex but should be do-able if you have previous year(s) to look at.

BTW note you can make a loss in a year and take that backward to reclaim CTax or forward to offset next year's tax. AFAIK you can go back one year.

SarahPink

martindow wrote: »

Are you sure these really are expenses for a business that didn't trade during the year?

I made a mistake keeping the mobile phone in my name so I cannot deduct it from the company account (my previous accountant really didn't help).

I have made a lost.

SarahPink

I am trying to file my account but I have a question :

If for 2012, my "Called up share capital" was £10000 and the "Profit and loss account" was -£9400 that means for 2012 the shareholders's funds was £10000-£9400=£600.

So, I would like to know : for the next year (2013) if it is right that the "Called up share capital" to be £600 instead of £10000 (there is no cash anymore in the business account)?

malc_b

SarahPink wrote: »

I made a mistake keeping the mobile phone in my name so I cannot deduct it from the company account (my previous accountant really didn't help).

I have made a lost.

A ltd co can't give anything to employees as it becomes a benefit in kind and taxable. The self employed have it easier where you can just say I use the phone 50/50 home/work so I split the costs. The work around for this is for you as a self-employed person to sell services to your ltd co. So rent space in your house to your ltd co including phone line (and also mobile I'd say). That's self employed property income which you declare on SA and then offset with your costs, heating, electric, phone, rates, mortgage interest etc.. (rates, heating, mortgage interest as percentage of floor area). This way you take advantage of the more relaxed rules for self employed at the cost of a more complex SA.

lazer

SarahPink wrote: »

I am trying to file my account but I have a question :

If for 2012, my "Called up share capital" was £10000 and the "Profit and loss account" was -£9400 that means for 2012 the shareholders's funds was £10000-£9400=£600.

So, I would like to know : for the next year (2013) if it is right that the "Called up share capital" to be £600 instead of £10000 (there is no cash anymore in the business account)?

No your Called up share capital is still £10,000 and you Profit and Loss Account will be -£9400 less whatever your loss for 2013 is.

The shareholders funds will be total will be £600 less the Loss for 2013

SarahPink

lazer wrote: »

No your Called up share capital is still £10,000 and you Profit and Loss Account will be -£9400 less whatever your loss for 2013 is.

The shareholders funds will be total will be £600 less the Loss for 2013

For 2013, in which of the following fields I have to put the -£9400 (amount of the Profit and Loss Account from 2012 knowing £6000 was paid as dividend) ?

Turnover
Administrative expenses
Operating profit/(loss)
Profit/(loss) on ordinary activities before taxation
Tax on profit/(loss) on ordinary activities
Profit/(loss) for the financial year

Fixed assets
Tangible assets
Current assets
Stocks
Debtors
Cash at bank and in hand

Creditors: amounts falling due within one year
Net current assets/(liabilities)
Net assets/(liabilities)
Capital and reserves
Called up share capital
Profit and loss account
Shareholders' funds

SarahPink

Noone can help for the above (I am really in emergency:()?

paddyrg

SarahPink wrote: »

Noone can help for the above (I am really in emergency:()?

Problem is you're asking questions that people pay accountants to deal with, so 1) the knowledge pool isn't vast and 2) people are cautious about giving 'advice' as that's what (professionally insured) accountants give (and can be sued for if they get it wrong).