LTD Company dates

[POOLINBLUE]

Hi people.I started my LTD company (HGV) business few months ago and I am trying to get my head around it all. Very confusing.

Of course I contracted an Accountant but I want to be pair of everything what is going on.

I am in the process of changing accountant as communication with the one I am at the moment is bad.

I did asked him the dates of my taxes but no reply yet. Could anyone help me out.

I started trading on 15th of January, no VAT.

When do I have to pay Corporation tax? Self assessment, PAYE etc?
It looks complicated all that cut out time, anyone has a dummy version of it?


Appreciate.

[malvolio]

Quick answers are that corporation tax is due 9 months after the end of your business year, so September 2019. PAYE and the like should be done monthly, quarterly or annually and matched to the Real Time Reporting (RTI) requirement for HMRC: for that you need your accountant's advice. As you say, you can ignore VAT for now, until either you get to £82k gross turnover or there are other business reasons for registering (again, that's what accountants are for). Self assessment is at tax year end as for any employee.

Be very clear that you and YourCo are two entirely different legal entities; never ever mix them and their money up. As a result you have two separate taxation timelines. yours and YourCo's.

The guides on the right are helpful, and the bible for freelancers is the Guide To Freelancing from www.ipse.co.uk. (needs a free registration, but take a look at the rest of the site while you're there).

[northernladuk]

Make sure you get an accountant offering Freeagent as part of the package. All tax dates and the like are shown very clearly in FA