When is the deadline for filing the first account?

The first account must be filed in 21 months after registration with Companies House.

How many types of primary business Tax in UK ?

Income Tax National Insurance Corporation Tax Capital Gains Tax VATRead more: Difference between LLP and private limited How to open a limited company in UK?

What are the penalties for keeping inadequate business records?

HMRC may charge a penalty of up to £3,000 per tax year for a failure to keep records or for keeping inadequate records.

When you must register for VAT?

You must register for VAT with HM Revenue and Customs (HMRC) if your business’ VAT taxable turnover is more than £85,000.Read more: How to register a company in United Kingdom?

What is a dormant company?

A company or association may be ‘dormant’ if it’s not doing business (‘trading’) and doesn’t have any other income, for example, investments.

What if you don’t receive a ‘Notice to deliver a Company Tax Return’ from HMRC?

You still must tell HMRC your company is liable for Corporation Tax. You must do this within 12 months of the end of your Corporation Tax accounting period. If you don’t, your company or organisation may be charged a penalty. HMRC calls this a ‘failure to notify’ penalty.

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Related FAQs

1. When is the deadline for filing the first account?
2. How many types of primary business Tax in UK ?
3. What are the penalties for keeping inadequate business records?
4. When you must register for VAT?
5. What is a dormant company?
6. Does the dormant company need to file account to Companies House?
7. What is my unique tax reference (UTR) number in UK?
8. The dormant company need to file account to Companies House?
9. Do overseas companies need to send accounting documents to Companies House in UK after registration?

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