Ltd Company accounts

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Hi All,

I need some advice on our Ltd company accounts. My partner and I set up a Ltd company in October 2022. Within the same year (until October 2023), we conducted business amounting to around £500, and the cash left in the bank account is close to £200 (including the money invested by the directors).

I used the web filing service of Companies House to submit the micro-company accounts. However, I am unsure if I also need to file the tax return separately. Since we are no longer trading under the company, I would like to keep our expenses low (hence doing the filing ourselves) but would like to keep the company active so that we can revisit it with a new plan to start trading again.

Any advice would be appreciated.

Thank you.

Replies (4)

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By paul.benny
25th Jun 2024 10:52

If you select the option, CH webfiling allows you to complete and file your tax return at the same time. You may find you can still file it through the same route.

Although not the question asked, why on earth did you set up a company for such tiny venture. The trading allowance for 'hobby businesses' is £1000 (each) but if you've made a profit (if), you probably have some tax due.

You'd be better off submitting a DS01 to close your company and getting proper advice if you do ever restart trading.

Thanks (4)
By stepurhan
25th Jun 2024 10:58

Close the company down, because you cannot afford to operate as a company.

Thanks (1)
By ireallyshouldknowthisbut
25th Jun 2024 11:16

you want form DS01

You should not be anywhere near a limited company

Thanks (1)
By Paul Crowley
25th Jun 2024 12:36

Agree all
The company serves no valid purpose at this time.

Thanks (0)