Application for striking off
In the past, when an application for striking off has been made to Companies House, it has been our policy not to prepare statutory accounts for the final period/year as Companies House does not require them and because the date of application falls several months before the accounting reference date.
In such circumstances, we have submitted accurate and detailed management accounts, signed by the directors, to the Revenue in support of the relevant Corporation Tax returns. Sometimes the Revenue accepts these, and sometimes rejects them on the basis that there is no directors' report. We have always re-submitted the management accounts stating that no directors' report is required, and the Revenue has accepted this.
On the most recent occasion, the revenue has insisited on a directors' report. We argued that the nature of a directors' report is that it is prepared only when statutory accounts have been prepared, and as no such accounts have been prepared in this instance, no directors' report exists. The Revenue stated verbally that it also required statutory accounts. We managed to agree with the Revenue to submit some sort of directors' statement containing all the information in a directors' report but not statutory accounts.
The Revenue stated that when online filing is mandatory, statutory accounts will be required or else the Corporation Tax return(s) will be rejected.
What do other firms do in such circumstances, and what are they planning to do when online filing is mandatory please?
- Non-Resident Director - UK Tax Position? 399 4
- Employment support allowance and self employed 130 3
- Company pays me the mileage rate of a company vehicle 99 1
- Registered Office 151 3
- PAYE coding notice - deliberate misstatement 1,485 23
- recovery of S455 on informal winding 314 5
- Partnership Registration 108 2
- Can you declare dividends and not withdraw them 907 36
- Owners loan to business - is interest taxable 112 2
- Would this save hours of your time? 690 12
- Audit Required 1,187 22
- HMRC to sell our tax data to private companies 310 9
- Residential Management Companies 93 2
- Value pricing 2,857 37
- Problems with CT600 filing 400 5
- Flat rate scheme - which rate to use? 397 11
- Payroll software for Mac 124 1
- Online / Cloud Data Back Up 124 2
- Excel problem - pivot tables and multiple data sources 218 5
- CIS and Close Company 209 6
- Residential Property Purchase Above £750K 947
- Using Sage with Sofa Categories 661
- Understanding the implications of January 2015 VAT changes for downloads on threshold for VAT registration 401
- transferring simply accounting 2010 from xp to windows 7 334
- rent-a-room allowance for part of the year 263
- HMRC Second Income Campaign - not so much a question as heads up 251
- Paye procedures for CVA 251
- Expenses Re-imbursed on the VAT Flat Rate Scheme 200
- Compliance Checks - Time limits 194
- Pension Fixed Protection 189