Company ceased trading in March, but has made about £7,500 net profit before tax. Y/e is 31/12/17. Heavy Director’s loan. Director is negotiating with HMRC about payment of last year’s corp tax as company had no money to fund this.
HMRC say they will agree a payment schedule with director if he states company has ceased trading, bank account is nil and all tax returns filed.
Of course all tax returns aren’t filed as no-one knows about this year’s tax yet. I am holding about £700 on behalf of the company. I’d like to pay this back to the company bank account now so director can at least use that to pay corp tax but am not sure if that would be the best way to handle things.
Would it be best to file DS01 now? I’ve tried calling HMRC but just get swept off the line with a recorded message. Am I right in thinking that when DS01 is filed they will send a demand for a corporation tax return for this year at that stage?