Year End Account Show Other Creditors

[Webpreneur]

Good evening Everyone,

Thank in advance for looking into this issue.

I am sole director in my company.
My accounts show other creditors under Creditors: amounts falling due after one year
Is it Mandatory to show my name under creditors section?

And also under accountant's compilation report it does not mention true for fair view.

Should I resubmit my account for last three years?

Looking forward for reply

Thanks and Regards
AJ

[dd156]

I think your name has to be in the accounts.
As for true and fair view, do you mean the accountant has not stated that the accounts give a fair view? Unless you are getting an audit done, the accountant can't comment on the accounts that way.

[Webpreneur]

Thanks for reply.

Well now issue is not much time left for extension and my nay name shows under Directors notes, not under creditors.
Accountant can add my name, but do I have to refine my acconts to HMRC?

Many Thanks

[dd156]

You can ask your accountant to prepare your accounts as management accounts and add that information I think.

[ishfaqsangra]

If there is mentioned directors loan and you being the sole director should also be fine.
As long as your managemenr accounrs show your name that should be fine

[Webpreneur]

Thanks for reply.

Is it recommended to edit account n send to HMRC again or Prepare management accounts for three years?

Are there any drawbacks in resubmitting accounts to HMRC?

[dd156]

You can resubmit upto one year after the initial submission deadline.
So you could do this but not for all three years.
Maybe just resubmit for the last year and get management accounts made for the years before the last one.

[Webpreneur]

Good morning Everyone,

In order to evidence business is registered for corporation tax, can I show following:-

(1) CT41G which is dated in 2013?
(2) Or HMRC tax return document showing the tax reference number?

You input will be valuable

Many Thanks

[Webpreneur]

Many thanks for looking into this.

Had discussion with accountant, he mentioned we can amend it as there is no changes to the overall accounting figure, mainly notes will be changed.

What you suggest?

Thanks

[dd156]

You don't really need to amend if no major changes are to be made.
Just submit management accounts.

[dd156]

Both are acceptable.

[Webpreneur]

Thanks DD156, you been very helpful.

One Question:

HMRC no longer issue CT41G, and the one I have is dates 2013.
Do you think it could be problem in submitting which is two year old?

Thanks

[Legal83]

CT41G issues when new company formed on board. it has to be 2013 when you registered your company, which is acceptable.

[Webpreneur]

Thanks Legar83 for you input.

Take Care

[zimba]

The best evidence for small businesses is CT600 which shows your UTI number.

[Webpreneur]

Thanks a lot for the answer.

Take Care

[Webpreneur]

Thanks a lot Zimba88.

Is it recommended to submit CT600 for all three years?

Thanks and Regards

[zimba]

Thanks a lot Zimba88.

Is it recommended to submit CT600 for all three years?

Thanks and Regards

No. I sent the last one I had.

[Webpreneur]

Thanks Very much for prompt reply.

You been very helpful and big thanks for your valuable reply.

One More Question Very Important, your input will very valuable:

My Year end accounts for 2013,2014 shows on Notes to the accounts section - other creditor under Creditors: amount falling due after more than one year
And there is no way accountant can mention my name in there, do you recommend any other means to show other creditor is director of the company?

Want to satisfy following evidence:
The audited or unaudited accounts must show the investment in money made directly by the you, in your
own name or on your behalf (showing your name)

Thanks in advance Zimba

[zimba]

If it says Director's Loan and you are the only director of the business, then that means you invested

[Webpreneur]

It mentions other creditors

[zimba]

It mentions other creditors

HO needs to see that it is you. Other creditors could mean anybody like a lender or a bank.
Your accountant must be able to put your name in Accounts notes. why not ? Mine did it.

[Webpreneur]

Thanks, you are right. Creditor could be any one.

Accountant mentioned - Under Notes to the Accountants, he will mention my name under
Related party transactions
My Name (Director) - Other creditor
Director Long Term Loan

but not under Creditors: amounts falling due after more than one year

Hope I am able to make you understand what I mean to say

[helpingperson]

How long HMRC and company house take to update revised accounts?

Any source please?


Thank you.

[Webpreneur]

HMRC won't take much time as it is done online.
Company House do not know, as they accept abbreviated accounts.

Thanks