Ltd company never used

bowlingo

Hi all,

On the 9th July of last year I received a certificate of incorperation as of a LTD company I formed online.

I have not used this company in any way...have no business account for it etc.

I have recieved a letter regarding corporation tax with various dates etc on it for when I am to file my corporation tax returns of which I dont really understand.

I would like to keep the company but obviously not be expected to pay taxes etc as its never been used.

I have just spoken to the corporation tax people as of the letter I recieved and they have told me I have to write in and explain I have not used the business in any way and they will make it "dormant"

Is this the correct procedure and will it say its "dormant" on the companies house website etc?

Any help greatly apreciated.

Thanks

earthstorm

bowlingo wrote: »

Hi all,

On the 9th July of last year I received a certificate of incorperation as of a LTD company I formed online.

I have not used this company in any way...have no business account for it etc.

I have recieved a letter regarding corporation tax with various dates etc on it for when I am to file my corporation tax returns of which I dont really understand.

I would like to keep the company but obviously not be expected to pay taxes etc as its never been used.

I have just spoken to the corporation tax people as of the letter I recieved and they have told me I have to write in and explain I have not used the business in any way and they will make it "dormant"

Is this the correct procedure and will it say its "dormant" on the companies house website etc?

Any help greatly apreciated.

Thanks

Yes just right as they state and get them to make the company dormant. this will keep the company as a non trading company. You will still need to file dormant accounts each year and pay a fee of £14, but this is just a case of stating you have not traded in the last 12 months and how many directors/shares have been issued

bowlingo

My first accounting year is july 2014...when is it best to write to them? I asume they fine you if you dont give them ine info on time?

earthstorm

bowlingo wrote: »

My first accounting year is july 2014...when is it best to write to them? I asume they fine you if you dont give them ine info on time?

write to them ASAP.

have you ever used the company, as after registering you would have been sent your company number along with 2 forms (1 to log it as a dormant company, 1 to log it as a trading company) you would have needed to complete 1 of them and post off

bowlingo

Thanks for your help

Atidi

bowlingo wrote: »

Hi all,

On the 9th July of last year I received a certificate of incorperation as of a LTD company I formed online.

I have not used this company in any way...have no business account for it etc.

I have recieved a letter regarding corporation tax with various dates etc on it for when I am to file my corporation tax returns of which I dont really understand.

I would like to keep the company but obviously not be expected to pay taxes etc as its never been used.

I have just spoken to the corporation tax people as of the letter I recieved and they have told me I have to write in and explain I have not used the business in any way and they will make it "dormant"

Is this the correct procedure and will it say its "dormant" on the companies house website etc?

Any help greatly apreciated.

Thanks

The normal procedure, assuming you had no immediate plans for the company to trade when you formed it, would be to advise HMRC accordingly when they contact you shortly after formation to ask about your plans.

However, as you presumably didn't do this, then why are you questioning the advice HMRC have now given you over this?

No, you informing HMRC will not make the company dormant on the CH website - you need to submit dormant accounts for this to show under accounts or change the SIC to 99999 to show the company is dormant under Nature of Business. You can change the SIC when you submit the annual return.

Atidi

earthstorm wrote: »

...You will still need to file dormant accounts each year and pay a fee of £14, but this is just a case of stating you have not traded in the last 12 months and how many directors/shares have been issued

A company must submit statutory accounts and an annual return every year -its a bit more than "just a case of stating you have not traded in the last 12 months and how many directors/shares have been issued"

The annual return fee is currently £13 when filing online

Atidi

bowlingo wrote: »

My first accounting year is july 2014...when is it best to write to them? I asume they fine you if you dont give them ine info on time?

There's no time like the present.

Or you could wait for them to send you a tax return and complete it.

Do you know how much the fine is? I know lots of MSE'ers are more interested in the consequences of not doing someing (or doing something wrong) than getting it right. :cool:

earthstorm

Atidi wrote: »

A company must submit statutory accounts and an annual return every year -its a bit more than "just a case of stating you have not traded in the last 12 months and how many directors/shares have been issued"

The annual return fee is currently £13 when filing online

I just filed for my 3 ltd companies and was changed £14 for each, so i know exactly what to do.

Atidi

earthstorm wrote: »

I just filed for my 3 ltd companies and was changed £14 for each, so i know exactly what to do.

You was tripple robbed, mate
Perhaps even doubly so if you paid the same last year too.

The fee was reduced from £14 to £13 w.e.f. 01 October 2012

http://www.companieshouse.gov.uk/infoAndGuide/oct2012fees.shtml

http://www.companieshouse.gov.uk/infoAndGuide/faq/annualReturn.shtml