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.
-
Best time to start trading?
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
Leave a comment: