CIC Association

Serving Community Enterprise

Hi, I am helping a friend with their CIC accounts and have a few queries.

It says on Gov.uk that if you registered for Corporation Tax before your accounting reference date

You usually:

don’t file a tax return for the period you were dormant, prepare your first tax return to cover the period you were trading.

However they were n`t trading for over a year so I gather this does n`t apply.

What date do I do their accounts from? The date of incorporation through to the accounting reference date, or the 1st of the month after incorporation?

Do I submit a P and L that contains zeroes but would be relevant to their CIC or any template ? The same for a balance sheet.

Do I have to mention I have complied with any particular FRS ?

Views: 134

Replies to This Discussion

Hi Louise. Corp tax first. As the company hasn't traded you should to info HMRC of this fact (in case the CIC has informed them they are trading) then they will put on the system no return is required. Once they begin to trade they should inform HMRC. Accounting reference date. You are absolutely correct. From incorporation to the first accounting reference date. Dormant accounts. You are right again. It is essentially a nil p and l and balance sheet. Depending on the year end will depend on which accounting policies you need to have followed.
Hope this helps.
Thanks
Andy

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