End of tax year question.. - HotUKDeals
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End of tax year question..

SAVE4IT Avatar
5y, 8m agoPosted 5 years, 8 months ago
My company has been dormant and I was wondering what the consequences would be if I were to take a payment before the new tax year begins?

Would this mean I would need to fill out a tax return for year 10/11?
SAVE4IT Avatar
5y, 8m agoPosted 5 years, 8 months ago
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banned#1
ltd?
sole trader or what?
#2
Limited Company.
#3
It is your responsibility to make HMRC aware of any monies owing to them whether by you as an individual or your company with respect to tax/ni. How you do this may not involve a tax return assuming your income is purely PAYE in which case your company will make the return. If you are taking income as a dividend then this will obviously be recorded and tax will have to be paid if due.

Edited By: jaygee on Apr 04, 2011 22:10
banned#4
no idea for ltd sorry, but if you do then do you not have to file accounts for the year? Can you not just wait a day to take payment?
#5
Not sure about tax but just incase you aren't aware you still need to find accounts with Companies House even if you are dormant...
#6
if in doubt leave it out,hmrc worse than the police when owed money,they come knocking if u cant pay,beware

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