Corporation Tax: trading and non-trading

[kia2094]

one brother and one uncle....
Nobody pays two firms. Certainly not the OP.

To the OP. Not sure there is any particular advantage in having one start vs. another. I'd just got for date of incorporation. You're going to have to do your filings against that date. And if say you started your CT year at the beginning on the next month (which it will become moving forward), there's not much extra paperwork.

So my suggestion is engage an accountant formally. And not a family member. And take their advice. Read the sticky thread for recommendations and lengthy discussions.

Your logic makes sense,

If I set the trading date to earlier or later date, considering I have no sale, are the expense before the stated trading date are treated differently than those after ?

[kia2094]

Why do you think that this matters?

Im filling for CT, one of the questions is what is that start trading date.


Im researching why this matters, does it effect the was I fill the accounts? How does expenses are treated before that date?

[northernladuk]

Your logic makes sense,

If I set the trading date to earlier or later date, considering I have no sale, are the expense before the stated trading date are treated differently than those after ?

You can still claim expenses back before a company started anyway..
Contractors' Questions: Can I claim expenses before starting a company?.

I could be mistaken here but it doesn't appear to make much difference either way so just pick one and get on with it.

[kia2094]

You can still claim expenses back before a company started anyway..
Contractors' Questions: Can I claim expenses before starting a company?.

I could be mistaken here but it doesn't appear to make much difference either way so just pick one and get on with it.

That is my question as well, what the catch on this? Why do they need trading date?

[northernladuk]

That is my question as well, what the catch on this? Why do they need trading date?

What else do they call it?

[malvolio]

Since CT is levied on profits per company year, i regret I fail to understand why this is a question. No sales equals no profits equals no CT. And losses can be carried forward to offset CT the next year.

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