Tell HMRC I don't owe any tax

AlexLever17

Hi, my company was registered on 13/11/2022. I'm the sole director.

The accounting period is from 13th November to 13th November each year. 

I've not been operating for a full accounting year yet, so I don't have to complete my company tax return yet.

I see that I need to tell HMRC that I don't owe any tax 9 months and 1 day after the accounting period. 

Just to be clear, I don't have to inform HMRC on this yet until I have a full year of company accounts right?

In which case, I would need to inform HMRC of any corporation tax by 14/08/2024. Is this correct?

I'm finding this slightly confusing so if someone could look over this that'd be much appreciated. 

Thanks.

tightauldgit

You should receive a communication from HMRC telling you if and when you need to submit a corporation tax return. 

If I remember rightly your reporting period for Companies House can be longer than 12 months so you just file on the first date after your first full year HOWEVER HMRC do not allow reporting periods longer than 12 months so you would submit 2 returns the first year covering the whole period. 

If you registered the company in Nov 22 then your accounting reference date will be 30 Nov 2023, right? Then it's up to 9 months and a day after that to submit your tax return and pay whats due. Because of the way your years run you will have 2 deadlines the first year - one return to be submitted based on the 13th Nov (so due 14/8) covering the first 12 months and then one based on Nov 30th (which will be your ongoing deadline due Sept 1 every year)

I'm not an accountant or a tax expert - just my understanding of the rules. 

TripleH

Your year end will be 30 November 2023 so it is 9 months after the end of your accounting period that you have to tell them about any tax you owe.

For the first year you will file 2 tax returns, 1 for 12/11/2022 to 30/11/2022 and 1 for 1/12/2022 to 30/11/2023. A tax return is only for a 365 day period (or 366 if there is a leap year).

The above is simplified and I may have the dates the wrong way round (13/11/22 to 12/11/23 then another return for remaining days to end Nov.).