I realise it's Christmas Eve but... Corporation Tax

[NoncePieforSanta]

I have just completed my first return for a new (but dormant) company - hasn't yet traded, single share, notional value of £1: I am correct, aren't I, that there's no corporation tax due? I've had a weird HMRC letter with a paying in slip but no amounts on it anywhere, telling me either to pay (how much, in that case?) or let them know there's none due, so they will stop reminding me.

I'm 99% sure no corporation tax is payable (no accountant as not trading - change of circumstances from when I set it up, but trading in 2020 remains a possibility) - but why, then, do they still send a blank demand?

Or have I got this all wrong?!

Any advice gratefully received - I know I can sort it out in the New Year, but if I can notify them online today that none is due, I can have the satisfaction of achieving something today (as the rest has been a shitshow!)

You still need to complete a nil return , the paying in slip is left blank incase you know how much you owe and want to pay it over

Corporation tax only due on any profits the company makes. So you won't be due anything. Make sure you do the returns though as you will get fined.

Thanks, mrsbyers- so after submitting the accounts, which I assume is what triggered the letter, I then do a nil return, and then notify them of no need to remind me etc after that?

(Sorry to be so dense...)

Ah, thank you, general- that's what I thought (wrt paying tax) : return is done, submitted and accepted, so now I just need to let them know not to send reminders?

Is the company active for corporation tax purposes? If not, inform HMRC and then No return is due.

Thanks, emma- I'll ring them on Friday (it's not active for corporation tax purposes)

Thank you to all of you for your help with this!

From what you've described, the company is dormant (I.e. not trading). Advice HMRC of this and no CT return will be due. If for any reason you did not file one when HMRC expected it and you were to receive late filing penalties you could easily appeal this by stating the company was not trading during the period. So basically, no need to worry

Kudos OP - one of the best thread titles ever

december that's even better news! Thank you

You can file the necessary form online if that helps. See here nil due.