I have a friend who has submitted dormant company accounts and no CT600 accounts for prior periods but does not fit the criteria to be a dormant company (purchased small items of plant). There will still be no tax due. I am about to submit current year accounts and a ct600 for the most recent year and have a few questions.
I don't normally do this kind of accounting as I work in industry but I'd like to help get him back on track.
1. Is there an obligation for him to correct the prior period accounts and ct600 or can I just correct in the current year accounts?
2. Is the AIA on these prior period asset purchases lost (i suspect yes) and now only capital allowances are available?
3. In general when does an obligation to amend accounts/ct600 arise (is there a materiality threshold deadline etc)?