Do I need to inform HMRC when I set up a limited company?

Registration with the HMRC is required for corporate tax or to file a tax return. You should enlist with HMRC for company tax reasons, via the web or recorded as a hard copy, in 90 days of starting any business. If you register via the web, your organisation will automatically be enlisted for company tax online. 

 

Companies House informs HMRC about the establishment of any newly registered company. HMRC, in turn, forwards an introductory letter to the newly established registered company at their registered office address. The contents of the letter contain The Unique Taxpayer Reference (UTR) of the new company, as well as form CT41G (Corporation Tax-information for new companies). Unique Taxpayer Reference (UTR) is essential and will be required every time the company corresponds with HMRC. Form CT41G possesses all information needed for a new company to become active i.e. how to enrol for business taxes, as well as the official information that the company is required to furnish to HMRC. Thus, it is not necessary to inform HMRC about the formation of a new registered Company. 

Within 7 days of your registration being confirmed by HMRC, you will get an Activation Code. You must activate your online services when you get this code, as it is only valid for a short period of time. 

 

Any company, which is inactive and does not intend to start its operation (like a professional business, employs workers, does not have any income/ revenue) is not accountable for corporate tax. Consequently, a dormant company does not need to register with HMRC as long as it remains inactive. However, such a company needs to inform the local corporation tax office and request them to notify their dormancy to HMRC. 

 

For further details please contact us at info@ccsnationwide.co.uk