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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Tony! Im running a limited company but its very straight

Customer Question

Hello tony! Im running a limited company but its very straight forward. Basically we run a courier services and only have one run. We get paid £900 weekly by FedEx so kind of we are contractors. I only issued 100 shares 50 mines and 50 for the secretary nominal value 1£ im having loads of difficulty to do the called up share
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi.

Are you trying to do this using the HMRC software?
Customer: replied 2 years ago.

Yes im

Expert:  TonyTax replied 2 years ago.
Thanks.

I don't use the HMRC software for company returns as it is too messy and you have to put all the accounts figures in whereas the third party software I use requires much less input once you have produced the accounts and takes all of 10 minutes.

One of the experts here uses the HMRC software and answers all the questions similar to yours so I will opt out to allow him to help you out. If he isn't online, I will send him a message and he will no doubt pick up your questions later.
Customer: replied 2 years ago.

Can you recommend me a third party software that will help me a bit? As well I would like to talk to a HMRC software expert if he is available.

Thank you Tony

Expert:  TonyTax replied 2 years ago.
I'm not allowed to recommend a particular software but if you google "tax calculator software uk" you will find inexpensive software designed for home (small business) as opposed to commercial users (accountants).

The expert you need isCustomer He isn't online but he will pick your question up when he is online.
Customer: replied 2 years ago.

Thank you tony,

Appreciate it you help. I ll wait as well forCustomerto respond and help me.

Regards

Expert:  TonyTax replied 2 years ago.
He's online now so you shouldn't have to wait long.
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

Please advise what your concerns are.

You state "Im tried to submit the report for the year 2013 -2014. The company began on the 13th dec so I have to do account till the 5th April 2014." When was the company formed and is this your first accounting return?

What is the company's accounting period end?
Why are you trying to do accounts for the period 13 Dec xxxx to 5 Apr 2014?

Many thanks
Customer: replied 2 years ago.

Hello,

Thank you for your reply. The company was formed on the 13dec 2013.

Its the first accounting return. I wasn't sure about the first accounting period, but I got a fine on £100 as hasn't been submitted the accounting for this period.

I cant get my head around with the HM revenue software. We run a very simple business as contractor for FedEx. We only have one van an that's the run weekly.

I cant get my head around with the shares. We issued 100 shares when the company was formed nominal value £1 and when I tried to introduce that on the shared capital its doesn't match with the balance sheet so ive been stuck for more than 20 days.

regards

Expert:  taxadvisor.uk replied 2 years ago.
Thanks for your reply...

Let me check something for you at Companies House... are you happy to advise your company's name and Reg No..

If the company was formed on 13 Dec 2013 then the first set of accounts would be for accounting period ended 31 Dec 2014. These accounts would be due at Company's House in Sep*****return to HMRC in Dec 2015.

I don't know what fine you have received.. are you sure it is not for non filing of self assessment personal tax return

I will happily assist you in putting the numbers together for CT600 return.

Many thanks
Customer: replied 2 years ago.

Hi,

Ive checked the fine and its a penalty fee for not submitting corporation tax for the year 2014 before the 5 april 2015.

The company number is(###) ###-####and the company name is ***** ***** ltd

Customer: replied 2 years ago.

Im a bit lost with all the first account and I need help regarding the corporation tax and accounting period,when are my dates and whats the corporation tax to be paid.

I have a letter that was sent on the 9th December 2014 for the accounting period ended 5 april 2014 to pay corporation tax due by the 6th jan 2015 and then I received the penalty by april. What should I do now?

Expert:  taxadvisor.uk replied 2 years ago.

Thank you for your reply.

I have looked at the Companies House website.
Date of incorporation 13/12/2013.
Your accounting reference date is 31/12.
Your first set of accounts are due no later than 13/09/2015.

Based on this information, your CT return would be due in Dec 2015. I can see why you would receive a penalty fee for not submitting corporation tax for the year*****is not due until 1 Oct 2015.

You should appeal against this penalty fine within 30 days of receipt of notice.

Now we come to the accounts ... did the company actually start to trade on 13 Dec 2013 or at a later date. The reason why I am asking this is if the business actually started to trade say after 31/12/2013 notwithstanding the fact the company was formed on 13/12/2013 then we could argue the company was dormant for this period and you would have to file one CT return. Otherwise there will be two CT returns
- one for period 13/12/2013 to 12/12/2014 and
- one for period 12/12/2014 to 31/12/2014.

You appear to have given figures to 05/04/2014.
In light of my aforementioned comments, you would have to provide figures to cover accounting period to 31/12/2014.

Who chose the accounting period to 05/04/2014?
If this date is wrong, we will address it in a form of an appeal..

I await further news from you.

Customer: replied 2 years ago.

I didn't choose any accounting period. I got the letter from HM revenue and it was stating this dates.

We did start the business on the 13th December 2012 and myself I was very confuse why I got a letter for the corporation tax on 2014 and a penalty last week.

I did check myself the company house and I couldn't understand the letters from HM revenue regarding corporation tax and accounting.

Regards

Expert:  taxadvisor.uk replied 2 years ago.

Thank you for your reply.

You need to address the issue of penalty with the tax office. You could not have started work in Dec 2012 if the company was only formed on 13/12/2013. I am happy to assist you with sorting

- the penalty
- advising on what needs reported and when
- assisting you with completing CT600 returns for the periods
13/12/2013 to 12/12/2014 and
13/12/2014 to 31/12/2014

If this is acceptable, I will offer this as additional service.

Please advise.

Customer: replied 2 years ago.
Yes that would be fine.
Let me know
Regards
Customer: replied 2 years ago.

Dear Tax advisor,

Let me know about the offer as additional service.

Regards,

M

Expert:  taxadvisor.uk replied 2 years ago.

Thanks for your reply.

I have submitted an offer as additional service.

I await your response.

Many thanks

Customer: replied 2 years ago.
Hello,
Havent received any offer yet.
Would likento action asap as i dont want problems with Hm revenue.
Expert:  taxadvisor.uk replied 2 years ago.
Thank you for your reply.
According to an acknowledgement from JustAnswer, my offer for additional service was successfully submitted last night.

I have resent it..

Many thanks
Expert:  taxadvisor.uk replied 2 years ago.
Hello

I am not sure if you are getting my offer for additional service.

I am aware you don't want problems with HMRC and I am here to help you. I have identified areas that need addressing and can help you adress all those.

I will proceed if my offer is acceptable and we will work together to bring this matter to a satisgactory conclusion.

Many thanks
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience: FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
taxadvisor.uk and other Tax Specialists are ready to help you
Customer: replied 2 years ago.
Hi,
Yes I'm having trouble and I can't see your offer. Sorry it's the first time
I'm using this service and defiantly would like to work with you regarding my company accounts and other paperwork.
Regard
Rosa
Customer: replied 2 years ago.

Hello,

I was able to accept the offer. What is the next step?

Expert:  taxadvisor.uk replied 2 years ago.

Thank you for accepting my offer.

WE will address the issue of penalty with the tax office. You could not have started work in Dec 2012 if the company was only formed on 13/12/2013.

I am happy to assist you drafting a letter to HMRC and appeal against the penalty. Please scan the notice of appeal and forward it to me.

WE will notify HMRC that first set of accounts would cover the period to 31 Dec 2014 and that you would file two CT600s covering periods

- 13/12/2013 to 12/12/2014 and
- 13/12/2014 to 31/12/2014.

You will preapre draft accounst for my perusal and I will help you complete CT600 Returns.

Please send me your contact details as private information.

Many thanks

Customer: replied 2 years ago.

Dear Tax Advisor,

Ive sent you a mail but no response.

Let me know if you receive my message

Regards

Kalsi

Expert:  taxadvisor.uk replied 2 years ago.
Kalsi, thank you for your reply.

I have not received any email. Please provide your details under private contact info.

Many thanks