Filing Dates Help Please

amhorton555@yahoo.co.uk[email protected] Just JoinedRegistered Posts: 10
Hi,

I'm new to my practice set up, I have my first Limited Company client and just wanted some help on if I have the following correct:

Client is first year trading,

Date of Incorporation: 04/12/17
Started Trading: 13/1/18
Accounting Ref Date assumed: 31/12/18

Will the deadline for filing accounts and corporation tax be 07/10/19?? Client has advised me that he had some income and expenditure between Oct 17- Jan 18 in the takeover period obviously this needs including but how will I let HMRC know this is the case and how will it effect the tax returns??

Many thanks

Comments

  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,444
    edited May 17
    Just to be clear, if he has had some income between Oct-17-Jan 18 how come the trading start date is 13th Jan?

    Normally the deadline for filing your first accounts to Co House is 21 months after incorporation - 04/09/19.
    If you have told HMRC it started trading on 13/01/18 they expect a CT Return to cover 13/1/18-31/12/18. Filing due 31/12/19 and payment of tax due 1/10/19.
    If you change the starting date to date of incorporation (you can not start trading before incorporation!) then you would have a long period of accounts and you need to file 2 tax returns covering 4/12/17-3/12/18 and 4/12/18-31/12/18, filing dates are 3/12/19 and 31/12/19 and CT payment dates are 4/9/19 and 1/10/19.

    See the .gov.uk website
    https://www.gov.uk/first-company-accounts-and-return

    You would need to ascertain in what capacity your client has received income before the company existed. It may have to be accounted for as self-employment income?
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