ambercelery started this topic @ 12:20 on 02/03/2006
Hi
I wonder if any of you can help me get a bit more information as to what I need to do with my limited company.
I came up with a software/internet idea a year ago and sought some advice as to how to go about developing it. Having weighed up all the pro's and con's of sole trader, company etc - I decided to incorporate a limited company. For the main reason was that the software/internet service deals and handles with peoples data and therefore gave me a bit more protection if something went wrong with the idea (of course, I am positive it wouldnt), as the company is responsible for the service , not me. So my house and mortgage remain safe.
(I have registered the company with Data Protection Act)
I have not had any funding for any of the development costs and have put all my own money in to get the service up and running. I am currently running the service free of charge in order to increase the number of users.
I have not registered the company with the inland revenue yet - as I have not received any money into the company - and also am not paying myself a wage or anything so therefore believe that i do not need to do so.
Now as we are approaching year end, i believe i need to pay an accountant to file my company accounts. Firstly, is this correct? I have a list of all my outgoings and 0 incomings so this shouldnt be a hard job.
Also, what else do i need to do? Do i need to register with inland revenue now?
RE: Accounts and registering with Inland Revenue
James Smith | 02/03/2006 01:54 PM
Your company will already be registered with the Inland Revenue automatically when you formed the limited company, although you will need to fill in form "CT41G" to register all your details with them fully. I think in an earlier post you asked about filling this in.
Your accountant should be able to advise on what is missing and needs doing to get all the paperwork up to date.
If you need some formal help, then please let me know.
Regards,
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James Smith
Chartered Accountant
www.jamesesmith.co.uk
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Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT