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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sole trader or what?
Limited Company.
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
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?
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...
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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