Closing a Company

[concept]

Hi,

I started a limited company some 13 months ago but unfortunitly things have become very quite and I now need to return to full time employment. How do I go about closing the company? The company has not made a profit. Do I still need to employ an accountant to file 1st year accounts. Im looking for the cheapest exit possible way to close.

Thanks

[harry munker]

Could you sell it..does it have any goodwill?

[concept]

Hi Harry,

Thanks for the reply. Im really not sure if there would be any value in it, the business offers a service, its a home based business with website etc and margins are good but I havint the funds to put in to advertise properly.

[adam391]

What is the service you offer?

Also I understand you can't post links yet due to your post number but what's the business name maybe we can Google it and find the website.

I haven't any experience in setting up/closing a LTD sorry but maybe when you close the company down you can operate as a sole trade then you can do your own tax return and not have the costs of an accountant and can see about promoting the business part time though blogs/social media etc. Just an idea.

[elainec100@cheapaccounting]

If the company has traded you wold need to file accounts etc - suggest you extend the year end to the date of close, file all returns and then close the company.

An accountant will be able to do this for you