closing ltd co only been trading 6 months - advice pls

closing ltd co only been trading 6 months -...

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hi all

my dad is unfortunately shutting down his car dealership after only 6 months of trading, therefore the only 'dealings' we have had with hmrc is paying VAT.

No accounts have been submitted or corp tax due to only trading 6 months.

if he opted to strike off the company would he still have to submit accounts to hmrc for tax purposes? it is likely that there will be no corp tax to pay due to being loss making.

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By Col85
27th Jan 2014 21:42

No accounts need be filed at Companies House. HMRC do require a CT600 before they let the company be struck off the register. Technically you could not file the CT600 and let HMRC challenge the striking off until they get "bored" and the company will eventually get struck off but as its a loss just file it and get it struck off nice an quick if needs be

 

 

http://www.hmrc.gov.uk/manuals/commanual/com130050.htm

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By User deleted
28th Jan 2014 09:00

Yes but the amount of clients who think they've made a loss and therefore don't owe anything but who have actually, when proper accounts are done, made a taxable profit.... Just saying.

Personally I think everyone who starts a business should have to produce accounts. It might catch a few of those who start up, take all the money out tax-free and then close up without paying tax...

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