company profit / turn over - tax office

deano · 1 Feb 2007 at 20:17

Hi,

is there an amount a company can make before needing to declare to the tax office?

Or a soon as a company is established does it need to fill in the relevant forms and tax returns etc?

thanks for any info.

deano · 1 Feb 2007 at 21:29

hi, thanks for the info

it is a company but profits are very low. Have a day job to pay for house, food

most of the accountants i have spoke to want £800 + vat to do the accounts and submission to comapnies house :eek:

may just go out and see about getting a loan and try and get some more work through this year.

deano · 1 Feb 2007 at 22:25

email sent.

deano · 2 Feb 2007 at 06:50

Jambo said:
Edit: Incidentally, if the profits are low why are you not running the business as a sole trader?

becasue i was adivised to set up the business as a LTD comapny, when i spoke to the tax office they adivsed me that if what i was doing was creating a profit (no matter what size ) i should be submitting accounts to them. Although they manage to loose them once i'd submitted the last lot.

I'll give HMRC a ring in the morning, see what they say.