Restructure Ltd which has never traded, & issue with CH filing
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Post a project like this1240
£40/hr(approx. $50/hr)
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- #3055713
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Accountants,Tax advisers, Consultants, Corporate Services & due diligence services
Manchester
257137926116533272235769352162419330278314135894983711591
Description
Experience Level: Expert
Estimated project duration: 1 day or less
We need help sorting out the structure and filing issues for a Ltd that has never traded, but is now to be used for a new Buy to Let purchase.
The company was incorporated in 2016 for a property purchase that was to be bought, refurbished, and sold on and the SIC code was 68100. The transaction went wrong and we had abortive costs of £8,000 around. March 2016 . The company has never traded and is registered dormant with HMRC for tax.
1.) We have filed micro accounts with companies house twice. We originally noted the expense to period 30/11/17, and then managed to delete this on the 30/11/18 filing. We now have to file again for the period 30/11/19 due by end of next month and so we need to tidy up this issue
2.) One shareholder has 50A ordinary shares, and the other has 50B ordinary shares. The two shareholders are now putting unequal sums into this new venture via way of director loans. We wish to change the share capital to reflect the risk that each shareholder is taking in the new venture.
Issues to be resolved –
a.) The more appropriate SIC code would now be 68209 – does this need to be changed with companies house?
b.) Can we use the pre-trading abortive/legal settlement costs? If not, does our recording of these expenses on the micro-entity accounts cause an issue? If so, how do we correct this information as filed to companies house?
c.) How is best to change the share capital? We are looking for tax efficient solutions
If you can provide a fee quote for assistance on the above that would be great. We need to get these issues sorted out by our filing Companies House deadline end of November 2020.
Further detailed information can be provided to those who apply to provide a fee quote.
The company was incorporated in 2016 for a property purchase that was to be bought, refurbished, and sold on and the SIC code was 68100. The transaction went wrong and we had abortive costs of £8,000 around. March 2016 . The company has never traded and is registered dormant with HMRC for tax.
1.) We have filed micro accounts with companies house twice. We originally noted the expense to period 30/11/17, and then managed to delete this on the 30/11/18 filing. We now have to file again for the period 30/11/19 due by end of next month and so we need to tidy up this issue
2.) One shareholder has 50A ordinary shares, and the other has 50B ordinary shares. The two shareholders are now putting unequal sums into this new venture via way of director loans. We wish to change the share capital to reflect the risk that each shareholder is taking in the new venture.
Issues to be resolved –
a.) The more appropriate SIC code would now be 68209 – does this need to be changed with companies house?
b.) Can we use the pre-trading abortive/legal settlement costs? If not, does our recording of these expenses on the micro-entity accounts cause an issue? If so, how do we correct this information as filed to companies house?
c.) How is best to change the share capital? We are looking for tax efficient solutions
If you can provide a fee quote for assistance on the above that would be great. We need to get these issues sorted out by our filing Companies House deadline end of November 2020.
Further detailed information can be provided to those who apply to provide a fee quote.
Kelly J.
100% (1)Projects Completed
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Last project
11 Nov 2020
United Kingdom
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