Winding up a company in the first year filings?

[darrensmith1]

Hi

Can someone please advise what are the HMRC filing requirements if a company is wound up after 19 months, i.e. 12months first year plus 7 months into the second year. As a corporation tax return is due after 21 months, does this mean nothing needs filing?

Also will accounts or anything else need filing with Companies House with a voluntary wind-up or a striking off by Companies House in this situation?

If the wind-up takes a few months, i.e. beyond our ac's filing date then will we get peanalised for late/non-filing?

Thank you very much in advance of your reply.

[GlobalTaxAdviser]

Hi

You don't need to file the accounts at companies house but you do need to file the accounts and corporation tax return otherwise HMRC could object to the company being closed.

Kind Regards

Sash

[darrensmith1]

Hi Sash (or anyone else),

I don't want to pay an accountant £1,000 to prepare this as the company didn't even really trade and no profit was made.

Do you know what is the likelihood is for HMR to object to the company being closed? Are there any statistics out there and their transparent procedure/policies for doing this? For example around 500,000 are closed each year and I don't know how much resource they have nowadays to challenge each one. It's not that they are going to lose any tax.

Many thanks
Darren

[GlobalTaxAdviser]

Hi Darren

I would suggest you write to HMRC explaining the situation. They might then not object.

If they spot the company has not filed accounts then they may object. It is difficult to say if you will get caught or not you can take a chance as there is nothing to lose.

Thanks

Sash