LTD tax return deadline query

Newheight13

Hello,

I set up a LTD instead of a sole trader account a few years ago. I stopped trading in September 2022, filed my accounts last year a pricey amount via an accountant. 

My file deadline is in a few days - I just sent a request to make my account dormant via HNRC and it stated I need to file my final
accounts. I don’t have anything in my statements since last filed. No debts or any other director to deal with. Do I need to submit this by what would have been my usual deadline if still trading?

Any advice how to proceed with this now. 

Much thanks 

prowla

I think you may still need to submit a zero return.

You can close down the company to make things final.

Jemma01

https://www.gov.uk/strike-off-your-company-from-companies-register/close-down-your-company

Read "Final Accounts" in the link above.

Bookworm105

Has there been any movement whatsoever in the company accounts since sept 22 (eg paying a dividend , taking money out for other reasons?) 
if not it should have been filing "dormant" company accounts made up to the normal year end date you have used up to then. Looks like at least 1 full year 22/23 and/or 23/24 depending on your year end date.
it now needs to be struck off and file its final accounts - as explained in link above 

Are you confident you know how to liquidate a company in a tax efficient manner if there is still money in the company bank account or it owns assets that need to be disposed of ? You don't want to be paying income tax if you can pay CGT instead on money the company owes to you as shareholder..

Savvy_Sue

Bookworm105 said:

Are you confident you know how to liquidate a company in a tax efficient manner if there is still money in the company bank account or it owns assets that need to be disposed of ? You don't want to be paying income tax if you can pay CGT instead on money the company owes to you as shareholder..

Not to mention the difficulties people face if they close the company and then realise there's still money in the Ltd bank account which they want to withdraw. That is not a cheap mistake to correct!