Tax

[trinity05]

We registered our company November 2004, but there has been no trading activities. However, we recently received reminder from the Inland Revenue and Company House for change in accounting date.

1. Do we need to submit accounts this year?

2. Since we have applied for a change in accounting date, are we expected to submit tax assessment etc this year?

Thank you.

[Loosehead]

1. Yes, even though there is no activity you still have things to account for, the companies house reg fee for example! They have to filed howeever simple they are.

2. The tax year does not move you still have to assess your tax situation regardless of the companies accounting date. It's a good idea generally to make your company year coinside with the tax year.

[Miss Zippy]

Even if your company is not trading (i.e. dormant), you still have to submit accounts and an Annual Return to Companies House. If you have just changed your accounting reference date, then you should submit accounts to Co House asap after the end of this period (and by no later than 10 months in any event). Dormant accounts need only be a very simple balance sheet.  In fact, a dormant accounts proforma appears on the Companies House website and can be downloaded, filled in and sent off. If your company is dormant, you can call up the Revenue & Customs office at which the company is registered and ask them to move the  company to their �dormant scheme�.  This means that you will not be required to submit accounts or an annual Company Tax Return to the Revenue. However, should the company start to trade you must let the Revenue know immediately, else you�ll be potentially committing a criminal offence. You should give the Revenue call and see if they are expecting a tax return from the company and at the same time ask to be moved to the dormant scheme in respect of future accounting periods.