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F. Naz
F. Naz, Chartered Accountant
Category: Business
Satisfied Customers: 5706
Experience:  Doing Chartered Accountancy
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I opened my company on 31 January 2018. My first set of

Customer Question

I opened my company on 31 January 2018. My first set of company accounts (made up to
31 January 2019) was due by 31 October 2019. If I file now, will i be charged? Will HMRC also file me separately for nor filing with them?I am now considering striking off the company as I never traded and don this i will. Will I still be liable for the late filing penalties? If I decide to cancel, should i inform HMRC?
Submitted: 6 months ago.
Category: Business
Expert:  F. Naz replied 6 months ago.
From the start till end, have you traded?
Customer: replied 6 months ago.
I NEVER TRADED from start till now
Expert:  F. Naz replied 6 months ago.
Okay will update you, thanks.
Customer: replied 6 months ago.
Any response
Expert:  F. Naz replied 6 months ago.
It will take some time, ill message you, thanks.
Customer: replied 6 months ago.
Hi I thought the service says I should get my answer in minutes, this almost 24 hours now?
Expert:  F. Naz replied 6 months ago.
I don't know what they are saying but as for me it will take some time, are you in a rush
Customer: replied 6 months ago.
I’m in a rush that’s why I chose the fastest level of service when I was paying
Expert:  F. Naz replied 6 months ago.
Okay, will update you on your issue in next 24 hours, thanks.
Expert:  F. Naz replied 6 months ago.
Kindly confirm, do you need the info or not?
Expert:  F. Naz replied 6 months ago.
Hello
Below is the information kindly read it and let me know whether your issue get resolved or notPenalties for late filing
You’ll have to pay penalties if you do not file your Company Tax Return by the deadline.Time after your deadline Penalty
1 day £100
3 months Another £100
6 months HM Revenue and Customs (HMRC) will estimate your Corporation Tax bill and add a penalty of 10% the unpaid tax
12 months Another 10% of any unpaid tax
If your tax return is late 3 times in a row, the £100 penalties are increased to £500 each.If your tax return is more than 6 months late
If your tax return is 6 months late, HMRC will write telling you how much Corporation Tax they think you must pay. This is called a ‘tax determination’. You cannot appeal against it.You must pay the Corporation Tax due and file your tax return. HMRC will recalculate the interest and penalties you need to pay.Appeals
If you have a reasonable excuse, you can appeal against a late filing penalty by writing to your company’s Corporation Tax office.Check recent tax forms or letters from HMRC for your Corporation Tax office address or call the Corporation Tax helpline.For striking offFinal accounts
You must send final statutory accounts and a Company Tax Return to HMRC.You don’t have to file final accounts with Companies House.Prepare your final accounts and company tax return.File your accounts and company tax return, stating that these are the final trading accounts and that the company will soon be dissolved.Pay all Corporation Tax and any other outstanding tax liabilities.If you’ve made a loss in your final year of trading, you might be able to offset the tax against profits from previous years - this is known as ‘terminal loss relief’. You can claim this on your final tax return.
Apply to strike off
To apply to strike off your limited company, you must send Companies House form DS01.The form must be signed by a majority of the company’s directors.You should deal with any of the assets of the company before applying, eg close any bank accounts and transfer any domain names.When your company is dissolved, all the remaining assets will pass to the Crown (including any bank balances).It costs £10 to strike off a company. You can’t pay using a cheque from an account that belongs to the company you’re striking off.It is an offence to make a dishonest application - you can face a fine and possible prosecution.What happens next
You’ll get a letter from Companies House to let you know if you’ve filled in the form correctly. If you have, your request for the company to be struck off will be published as a notice in your local Gazette.If nobody objects, the company will be struck off the register once the 2 months mentioned in the notice has passed.A second notice will be published in the Gazette - this will mean the company won’t legally exist anymore (it will have been ‘dissolved’).From the above info it is clear that you have to pay your penalties and.also inform HMRC.References
https://www.gov.uk/strike-off-your-company-from-companies-register/apply-to-strike-off
https://www.gov.uk/company-tax-returns/penalties-for-late-filingNote :- If you find my information helpful then kindly rate it or accept it so i can get credits for my efforts, thanks.
Expert:  F. Naz replied 6 months ago.
More info regarding penalties3. Tax-related penalties
In addition to any flat-rate penalty, your company is also liable to a tax-related penalty if it is required to deliver a Company Tax Return and fails to do so within 18 months after the end of its accounting period (or by the filing date if its later than that). The penalty is calculated as follows:10% of the unpaid tax where a return is delivered within two years of the end of the period covered by the return
20% of the unpaid tax in any other case
For return periods ended on or after 1 July 1999, the ‘unpaid tax’ means the amount of tax payable by the company for the accounting period for which the return was required, which remains unpaid 18 months after the end of the accounting period or at the filing date if it is later.For return periods ended before 1 July 1999, the ‘unpaid tax’ means the amount of tax payable by the company for the accounting period for which the return was required, which remains unpaid 18 months after the end of the accounting period.https://www.gov.uk/government/publications/corporation-tax-penalty-determinations-ct211-notes/corporation-tax-penalty-determinations-ct211-notesNote :- If you find my information helpful then kindly rate it or accept it so i can get credits for my efforts, thanks.
Expert:  F. Naz replied 6 months ago.
Hello
Did you got my info, was it helpful?
Expert:  F. Naz replied 6 months ago.
Hello
A reminder, still waiting for your reply, thanks.
Expert:  F. Naz replied 6 months ago.
Hello
Are you there? What's the reason not replying