UK 2 year business / bank account - 13k turnover - options?

[hmeah]

I've got a limited company which was set up in June 2010, it also has a business bank account, over the last 2 years we have had 13k come into this account, recently I been getting letters from companies house to fill accounts, I've not done these since starting the company, nor have I taken any money out of the bank account.

I have another business which I pay myself and my partner, its seperate to the company I'm dve mentioned above.

I want to know, if I was to sumbit the accounts, what tax will I need to pay on 13k? If I choose to close the company down, will I still need to pay any taxes? What's the best way around this, its not paramont that I keep this company but not a loss if I do.

Appreciate feedback/response.

 

[das]

It is a better option to hire a chartered accountant that may help you in handling your accounts and with a small fee. You no need to employ one you can outsource your accounts to avail services like bookkeeping, payroll, taxation etc.

 

[Truemanbrown]

One thing is if you want to keep this company then you will need to file accounts at Companies House and that will mean late filing penalties!

I would be tempted to closethe company down but preparing accounts for HMRC and Corporation Tax purposes.

I would speak to an accountant asap.

 

[Harrydavid]

To hire a chartered accountant to grow up your business with low salery basis.

I have a business which I pay myself and my partner, I want to know, if I was to submit the accounts, what tax will I need to pay on 13k or more? If I choose to close the company down, will I still need to pay any taxes? What's the best way around this, its not paramount that I keep this company but not a loss if I do.

 

[Truemanbrown]

I have a business which I pay myself and my partner, I want to know, if I was to submit the accounts, what tax will I need to pay on 13k or more? If I choose to close the company down, will I still need to pay any taxes? What's the best way around this, its not paramount that I keep this company but not a loss if I do.

If you close the company I would still pay the tax. HMRC have the right to stop a company being struck off the register at Companies House if there is an amount outstanding.

You would pay around £2,600 on profits of £13k.