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I opened up a UK limited company February last year. I made a directors loan into the company and made a loss with no income made by the company. After a couple of months I put the business on hold because I had other issues I had to deal with at home. Unfortunately I've not got around to continuing the business and would like to close it.

I'm now wondering what my obligations are in terms of filing taxes for the year. I have not registered for corporation tax. Having looked online I should have done this when I formed the company.

What is the best way of going about closing the business preferably without having to file taxes?

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You can still register for tax and pay up any taxes owed. It is only an year so might not be a major issue.

Time after your deadline -> Penalty

1 day -> £100

3 months -> Another £100

6 months -> HM Revenue and Customs (HMRC) will estimate your Corporation Tax bill and add a penalty of 10% the unpaid tax

12 months -> Another 10% of any unpaid tax

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