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?
- Tax status of prizes 246 16
- Accounting for a finance lease 25 2
- do i pay vat when buying a business 451 24
- SA302's anyone?? 386 14
- Deed of variation on a will & effect on tax returns 52 1
- Clogged Losses 220 4
- 2013/14 failure to submit end of year submission 83 3
- Import Sales Invoices into Sage Instant 277 5
- Are Sage finally getting it's act together? 189 2
- Receiving dividends from a pension fund? 82 5
- Partnership to LLP - Capital Contribution 157 3
- HMRC overreaching its powers -again against a small surveying firm? 131 2
- Claiming VAT and missing receipts 351 9
- Bookkeping software 556 5
- VAT MOSS - e-services query 94 1
- Money transfers between companies owned by one person 348 12
- clg 139 3
- A change from the old Q v NQ debate 1,459 38
- RTI error - two of the same employer - what to do 309 6
- VAT errors 193 4
- Skandia using wrong address 1,608
- Nil Rate Band Trust - index linked debt by way of charge over property 890
- International interest certificate 500
- NOVA 360
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 269
- Bonus Bonds 252
- Management expenses for investment company 251
- Help with tax codes on Sage 199
- Entertainer withholding tax in Australia 164
- tax on apprenticeship income 155