Dormant Company

Discussion in 'UK Accountancy' started by forthright, May 5, 2012.

  1. forthright

    forthright

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    Hi,
    I am self employed, and trade as a sole trader.
    I also have a dormant Ltd company.

    Companies house have told me that as soon as I start trading the Ltd company stops being dormant, I do not need to inform them as soon as I start trading Ltd.

    I have issued invoices as a Ltd Co. as I need the Ltd status for certain parts of my job where I install things I make - and wish to limit my liability in case in the unlikely event something I install hurts someone and there is a claim against me (I already have Public Liability insurance for th Ltd Co.).

    I have so far issued invoices for the install under the Ltd co. and the goods I supply as a Sole Trader.
    I guess at my Year End when I need to submit accounts for the Ltd Co. is when I need to account for all the sales under Ltd.

    Can I trade as a Sole Trader and Ltd at the same time like this.

    I also do my own Tax Return as Self Employed, do I need to use an Accountant to prepare figures for Company House, and how do profits and tax (I assume it would be corporation tax) work with my tax return.

    Thanks
     
    forthright, May 5, 2012
    #1
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