If you have just formed a limited company, then one of your earliest requirements is to let HM Revenue and Customs (HMRC) know about your company. Financial penalties can be applied to you if you do not inform HMRC within 3 months. To inform HMRC using the correct protocol, and in appropriate time, you will need to complete a CT41G form. These forms are used so you can expound all the relevant information about your company to HMRC for taxation and National Insurance (NI) purposes.
How to Access A CT41G Form?
HMRC receive timely updates from the companies House of any new company formations. Once HMRC receive news of your new company, they will send you a pack to your registered business address. Within this pack you will find a CT41G form and guidance notes; thus giving you the opportunity to inform HMRC of your business formation. You should act fast when presented with this form, and in the event of not receiving a pack, you should be proactive in informing HMRC of your situation. HMRC will use the information provided on the CT41G form to provide deadlines for paying and filing your tax. These deadlines will again be sent to you by HMRC.
We Have Stopped Trading Do We Still Need to Complete a CT41G Form?
If your company becomes dormant, you still need to inform HMRC of this development using the CT41G form. If your dormant company begins trading again in the future, you must complete the CT41G form within three months of beginning to trade again.
If you need help with company registration and HMRC company compliance please contact The Accountancy Solutions on 01216297768 or 02070784001 for further advice.