UK LTD Tax?

[borke]

Hello guys. I opened my UK LTD company in August 2023. I used 1st formation to open it. I didn't make any profit. Only transactions that I made was on my Wallester account which is connected with that company. I spent there around 500$ on different things.

My main question is what tax I need to pay. What I should fulfill/report so I am safe? How much it would me to close that firm.

Thank anyone for reading and big thank for people willing to help me.

 

[Sols]

How did the company get money on the Wallester account?

Usually, I would recommend hiring‌ an accountant but if you're on a shoestring budget, you can do a pretty good‍ job with software like Xero, Sage, and Quickbooks.

If you have to pay tax, the⁠ UK Government website can be very helpful.
https://www.gov.uk/corporation-taxhttps://www.gov.uk/browse/business/business-tax

 

[EliasIT]

How large is the total turnover / amount of money that has been processed through‌ that company, I presume we're not talking about just $500?

 

[koohl]

Give us more information if you want help!