An English company is required to submit the following returns at least once a year, which are:
- Confirmation Statement
- Annual Account
- Corporation Tax
- VAT Declaration
- Payroll (if employed in the company)
- Self Assessment Declaration
- Tax return request
Company, material, or title changes must be reported here. In addition, you must specify who is responsible for the company’s decisions (PSCs) and how many percent.
This change in the share capital has taken place, and the SIC codes are already mandatory. (if not specified at the time of foundation or only partially)
An English company was founded on May 15, 2016. End of tax year: May 14, 2017
The first full tax is from 15 May 2016 to 14 May 2017. In this case, a so-called Broken Tax, which will be broken from May 15, 2017 to May 31, 2017, will be created.
This is because the English tax authority (HMRC) aligns the tax year with the Companies House database for the first tax year, so that the returns after the first tax year can be submitted to both HMRC and Companies House at the same time. From this point on, every subsequent accounting tax year will be adjusted to this date, so the company will be taxed for the following tax year:
From 01/06/2017 to 2018/05. and so on.
Some of the declarations have a significant reporting deadline, while others have to be submitted on time.
Corporation Tax – CT600
Staying with the above example, our company expired on 17/05/2017 with the tax of 2016/17, so you will have to submit a tax return, which you will have to submit within 9 or nine months, or pay the corporation tax.
In other words, nine months after the expired tax year, we have set aside the amount of tax that may have been incurred – in 9-month installments – and pay the total amount of the unpaid tax to the tax authority before the deadline.
Companies that have already reached the current turnover limit (which represents £ 85,000 this year) or companies that voluntarily register for VAT and even £ 85,000 are required to declare VAT. – No significant traffic has been achieved, but you want to make taxable traffic.
VAT returns are quarterly, the deadline for preparing returns and paying VAT is the 7th of the second month following the end of the reporting period.
(for example, the deadline for submitting a declaration for the period from January 1 to March 31 is May 7)
- January – April – July – October
- February – May – August – November
- March – June – September – December
All businesses need a Paye Registration Number for payroll.
If this is not already the case, order it using the following link: https://symfalogic.co.uk/paye-registration/
Once the registration is completed (usually within two weeks of the order, it will arrive at the home address), the authority will issue one:
- Registration Number and One
- Account Office Number
numbers that can help you start payroll accounting in your company. You need to fill out the following form to report a new employee:
- Entering Employee registration: https://symfalogic.co.uk/entering-worker/
- Exit Employee Registration: https://symfalogic.co.uk/leaving-worker/
When entering a new employee, you should also specify how many times the company would like to pay the employee a wage-related income. Possible ways to do this are:
- Week four
– who have earned 2500 pounds or more of taxable income, for example: real estate leasing
– whose income from savings or investment exceeded £ 10,000,
– whose income from share-based income exceeds £ 10,000,
– those who have made a profit from the sale of things such as shares, second homes or other taxable assets (eg if they sell property acquired through inheritance) and capital gains tax afterwards,
– He was a company director (also in LTD)(except if you were a non-profit organization such as a charity director)
– your income (or partner’s income) exceeded £ 50,000 and one of them received Child Benefit support,
– obtained taxable income from abroad,
– live abroad and have a British taxable income
– your taxable income exceeded £ 100,000
– a Trust or a registered Pension Scheme agent.
If you already have at least 1 full tax year in the UK, you will most likely have an extra tax payment. If so, it’s for you
you can claim a tax refund!
- If you are an employee (and already have a closed tax year) and NI and TAX have been deducted from your salary, you can already see if more taxes have been deducted from you in the past year than you should have… If more taxes have been deducted from you, then it can be reclaimed!
- If you are both an employee and a self-employed person in England, you can already see if more taxes have been deducted from you in the last year than you should have… If more taxes have been deducted from you, you can claim it back!
- If you are moving back or have already moved back to Hungary, you can already see if more taxes have been deducted from you in that year than you should have… If more taxes have been deducted from you, you can claim it back!
Do you have more questions? – Then don’t hesitate to contact us
at any of our contacts!
Phone: +44 (0) 1357-340-000
Email address: firstname.lastname@example.org
Skype: Symfalogic Corporation