Hi,
I will be starting the MVL close down process in January 2021 (waiting for a term deposit to expire & release my funds). My company ceased trading in June 2020 but has continued to earn interest income and has a year end date of 28 Feb, which I have already submitted accounts and a tax return for this year.
I have deregistered for VAT and also the PAYE scheme.
I normally use the online service on the gov.uk portal to prepare and submit my annual accounts and tax return to HMRC & Companies house. Has anyone gone through this process before using the online software - is there an option to say its 'final'? If I select to only send this to HMRC and not Companies house, I am able to amend the period end date but get a message 'We have been unable to match your outstanding Accounting Periods to the Accounts you are filing' (I used 30 June 2020 as a test date). Do I need to contact them to have the date amended?
When submitting the final accounts, just to confirm this is just going to HMRC and does not need to be sent to companies house? Is lodging a final return/accounts informing hmrc the company is closing or do I need to also formally write them a letter (I couldn't find guidance on the gov website).
As I will have earned interest income up until 1 January 2021, should that be my final accounts end date?
Thanks
Replies (7)
Please login or register to join the discussion.
Final accounts & tax return - closing downHi,
I will be starting the MVL close down process in January 2021 (waiting for a term deposit to expire & release my funds). My company ceased trading in June 2020 but has continued to earn interest income and has a year end date of 28 Feb, which I have already submitted accounts and a tax return for this year.
I have deregistered for VAT and also the PAYE scheme.
I normally use the online service on the gov.uk portal to prepare and submit my annual accounts and tax return to HMRC & Companies house. Has anyone gone through this process before using the online software - is there an option to say its 'final'? If I select to only send this to HMRC and not Companies house, I am able to amend the period end date but get a message 'We have been unable to match your outstanding Accounting Periods to the Accounts you are filing' (I used 30 June 2020 as a test date). Do I need to contact them to have the date amended?
When submitting the final accounts, just to confirm this is just going to HMRC and does not need to be sent to companies house? Is lodging a final return/accounts informing hmrc the company is closing or do I need to also formally write them a letter (I couldn't find guidance on the gov website).
As I will have earned interest income up until 1 January 2021, should that be my final accounts end date?
Thanks
The Liquidator should have advised you the the Liquidation date will create a new tax year end, so you are best off waiting until post Liquidation before submitting returns for the hiatus period.