Best time to start trading?

[jaslang]

Hi



Sorry to pester with silly questions but...we have recently set up a Ltd company after trading as a partnership for the past two years on our accountants advice.



The accountant registered the company a week or so ago and the bank account will be open tomorrow 02/04/07



We have 2 employees whom I issued with P45's on Friday (30/03/07) and intend starting them up again with the Ltd company tomorrow.



Firstly I hope I was correct in the P45 issue - which was intended to tie in with the PAYE year end thus avoiding an additionnal return for the partnership next year?



Secondly I have just received forms CT41G and 64-8 from the revenue and have to fill in the date the Ltd company starts trading...unfortunately our accountant is on holiday for the next two weeks so I will have to put a date in.



The question is if I commence the company trading tomorrow does that have any implications regarding accounting periods and possibly the necessity to file an extra return for a single weeks trading? (as with PAYE)



Finally if I can put tomorrows date for startup...what would be the date to which the company intends to prepare its accounts (box 8 on the CT41G)



Sorry for the long winded post and if anything is unclear please say so.



Thanks for your help



Jas

[Sockpuppet]

I would start the company in April with a 12 month first year. Go for a 18 or 6 month first year to get yourself away from the tax year end so the account is less busy when you do your returns.

You have to issue the P45s as I am aware, there may be some regulations regarding TUPE where you don't have to but I think its easier to make them redundant and then re-hire them.