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I was contracting from 2012-2018 after which I became staff.
I decided to keep my limited company "running" just to keep my options open.
How easy is it to do a self assessment bearing in mind I haven't invoiced or bought equipment / materials through the business in the last year?. My accountant who is no longer in my service has contacted me reminding me that it's year end and self assessment needs to be posted.
I suppose my question is: should I let the accountant do it for a fee or is it easy enough to do yourself?
Thanks in advance for any advice.
Are you really asking about self assessment? The deadline for that was jan 31st,so I'd be surprised if thats what needs doing. I suspect you're actually referring to your company year end accounts?
If its company year end, then its not difficult, but it all depends on how clued up you are. If not at all clued up then I suspect you're better off paying someone to sort it out.
If it really is self assessment, then its dead easy, so just do it yourself.
If it’s a company then there’s two returns - corporation tax (like self assessment but for the company) any your company’s house return- lodging your accounts there- which isn’t about paying tax but it is import and one of your statutory duties as the director to do on time to avoid fines / a county court judgement
I suppose my question is: should I let the accountant do it for a fee or is it easy enough to do yourself?
ask them what they’d charge. If there’s nothing really to calculate then it won’t take them long and shouldn’t cost much
https://www.gov.uk/dormant-company/dormant-for-corporation-tax
https://www.gov.uk/annual-accounts/microentities-small-and-dormant-companies
Katie files dormant statement accounts for a flat management company each year. It's trivial - see if you can work it out yourself and if not maybe ask your accountant to show you what needs doing.