1st Annual return Help please!

[ajw]

Hi, Hopefully you can advise what to do!

Started Ltd last year for hubby todo some contracting inbetween jobs. He managed to get perm job quite quickly so don't use the ltd anymore. Not sure exactly how much work is involved for next step hence my request:

Time for 1st annual accounts. I have done all the record keeping and HMRC stuff. It has been very straight forward money in , wages and petrol out. Will I be able to complete returns to CH myself or will i need to pay an accountant?
Secondly, Would it be worth keeping company alive incase needed in future (hubby is in manufactoring and we know how well that could pan out!) Or would it be wise to close now.


Thanks in advance for any help!

[Paddy]

Time for 1st annual accounts. I have done all the record keeping and HMRC stuff. It has been very straight forward money in , wages and petrol out. Will I be able to complete returns to CH myself or will i need to pay an accountant?

No, you dont need one, ...don't sent reciepts to HMRC unless they ask.

Secondly, Would it be worth keeping company alive incase needed in future (hubby is in manufactoring and we know how well that could pan out!) Or would it be wise to close now.

Yes, but tell Co House that you are not trading.

[northernladuk]

Did he actually do any contracting?

Search the professional forums and you will see a couple of posts about people wanting to close down dormant or non trading companies.

If that ask for some advice from an accountant.

EDIT : If he only did one contract he won't be able to claim petrol/subsistence so a few threads recently have indicated

[moggy]

Did he actually do any contracting?

Search the professional forums and you will see a couple of posts about people wanting to close down dormant or non trading companies.

If that ask for some advice from an accountant.

EDIT : If he only did one contract he won't be able to claim petrol/subsistence so a few threads recently have indicated

think its been mentioned before, can't remember who said tho, but its about whether he intended to do more roles whether its deemed a perm place or employment.

[speling bee]

Did he actually do any contracting?


EDIT : If he only did one contract he won't be able to claim petrol/subsistence so a few threads recently have indicated

What the hell are you talking about?

[ajw]

He contracted for about 3 months. We were told by an accountant that he could claim fuel as an expence to company...is that wrong??I have already summited the payroll stuff for 2011/2012.

I don't mind keeping company dormant.

The main thing is wether I can do the return stuff myself or not.

Thanks again for help.

[northernladuk]

What the hell are you talking about?

Ugh.. It appears this was to do with brollies not LTD. My bad...

http://forums.contractoruk.com/accou...-claims-2.html

He contracted for about 3 months. We were told by an accountant that he could claim fuel as an expence to company...is that wrong??I have already summited the payroll stuff for 2011/2012.

I don't mind keeping company dormant.

The main thing is wether I can do the return stuff myself or not.

Thanks again for help.

No you are correct. The thread I remembered was related to umbrella's. Forget what I said.

[doomage]

He contracted for about 3 months. We were told by an accountant that he could claim fuel as an expence to company...is that wrong??I have already summited the payroll stuff for 2011/2012.

I don't mind keeping company dormant.

The main thing is wether I can do the return stuff myself or not.

Thanks again for help.

General rule of thumb, if you're asking this question, the answer is no. Get professional help, it may not even be that expensive for a little advice.

I mean, you didn't even ask this in the correct section of the forum.

[speling bee]

Ugh.. It appears this was to do with brollies not LTD. My bad...

http://forums.contractoruk.com/accou...-claims-2.html



No you are correct. The thread I remembered was related to umbrella's. Forget what I said.

Consider yourself b1tch-slapped.

[moggy]

Ugh.. It appears this was to do with brollies not LTD. My bad...

http://forums.contractoruk.com/accou...-claims-2.html



No you are correct. The thread I remembered was related to umbrella's. Forget what I said.

its about the intention or doing more roles that matters with claiming expenses with an umbrella

http://forums.contractoruk.com/umbre...a-company.html