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  • RE: Tax returns for dormant company

    Thank you for the guidance on phoning the corporate tax folk. I spoke to a very helpful person, who in exchange for my UTR, reassuringly confirmed that my company was recorded as dormant (having done this online last year). On explaining the background, it was confirmed that for 5 years after declaring dormancy, provided I did not trade, HMRC would list my company as dormant. If still not trading after 5 years, then another call to them to confirm dormancy should be made. During this period of dormancy, it was confirmed I do not have to fill in a company tax return and HMRC wouldn’t bug me for one – well, at least until the 5 years have elapsed. But the Company House Confirmation Statement renewal process has to be performed each year regardless. The phone call served to cement my situation with HMRC - which could have remained open-ended- if I just relied on the online registering of being dormant.
  • RE: Tax returns for dormant company

    error- of course, this year is 2023
  • Tax returns for dormant company

    I set up a new company in Jan 21, did not trade, and went through the online process in Jan 22 to declare it dormant with HMRC as well as going through the re-registering process with Company House to confirm the Confirmation Statement. I have still not started trading - and so this year, in Jan 22, I again went through the Company House Confirmation Statement renewal process. But unsure about the necessity to tell HMRC again about being dormant, I attempted to access HMRC online company tax return web-site (using the Gateway Code etc supplied when setting up the company) and was booted out as "not authorized" . This would make sense if I could be sure that a dormant company, that has not told the HMRC that it has started trading, would be barred from accessing the site. I cannot find an explicit and clear statement that a dormant company does not have to file a company tax return if it has not started trading and has not been specifically asked by HMRC to file a return. Please clarify. Many Thanks
  • RE: UK tax on US pension fund

    very helpful thanks
  • UK tax on US pension fund

    As a UK citizen and resident, I have a US pension fund that I could cash-in or take as regular payments. On looking at other community threads my understanding is: 1) If I take it all as a lump sum it will be taxed at 30% in the US. However, I do not have to enter the residual amount into any part of my self-assessment form - except for a note under foreign income that this payment has been made. This will avoid it from getting added to my taxable income. 2) If I take it as a regular income (every 3 months say) then the tax agreement with the US is that there will be no tax deduction in the US but it will be treated as normal income in the UK? Many Thanks