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1. Gather ALL receipts, Bills & Letters
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Look through your emails and filing cabinets.
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2. UTR Number (10 Digits Number): You need this to file the CIC Tax return. Look through letters received from HM Revenue and customs
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If you lost the correspondence, Phone HM Revenue and customs for a duplicate copy.
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3. Bank statements: Make sure you have all the bank statements covering the financial Period.
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If you have some missing statements, simply call your bank to send you duplicate copies.
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4. Account Software: Using an online software like QuickBooks online or google sheets might make it easier.
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Make sure You know how to do bookkeeping otherwise Just get an Accountant to do it for you.
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5. Income and Expenditure Report: You need to record all Income and expenses for the financial Year before running off this report.
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CIC Accounts: From the Income and expenditure report, you will then be able to prepare the Statutory Accounts suitable for Submission to Companies House and HM Revenue and customs.
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6. FILE Accounts with Companies House
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At the current time, you can only send the accounts by post only. The online system is still not working yet. Please Allow enough time when filing!!
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7. FILE Accounts with HM Revenue and customs
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These can only be filed online. You will need to have a tax account before you can submit the Accounts. Also, you need a UTR (Tax reference Number) This can be found on any letter you received from HMRC.
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8. FILE CIC Tax Return With HMRC Revenue & Customs
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Use HMRC’s online service or simply get an Accountant to help you.
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9. Work out Corporation tax payable: You need to work out the tax the CIC Needs to pay and put this information on the tax return.
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Payment Deadline to pay corporation tax: Make a note of the payment Amount and due date to avoid late payment charges and hefty penalties.
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