Closing a LTD Company

[idv]

Hi

I created a LTD company in June last year alongside our full time jobs, however during this time we have been creating our website and have not been trading so have no income/outcome.

Due to external factors we need to close the LTD company down, how do we do this, is it straightforward and does it cost?

Also what happens regards to accounts, tax etc, do these need to be submitted?. As I mentioned we have not been trading so we have no customers/sales or expenditure as we have been working from home or we have no loans or have not been taking any wages. Our business bank account has not been used.

[MyAccountantOnline]

If the company is dormant ie never traded and has no assets/libilities you can get the company struck off at Companies House - have a look at their website and search under striking off. It's a very straightforward procedure.

If however the company has traded or has money in a bank account etc do seek professional advice first - an accountant can help.

[PhilAtBFCA]

If the company hasnt traded at all then you can complete form 652a and end it with a cheque for £10 to companies house and it will all be done.

You can download the form and the attached guidance here
companieshouse.gov.uk/forms/formsOnline.shtml

as I cannot post links yet, add www and a . before and paste into your browser.

Hope that helps

Phil

[nasirs]

There could also be a way that you just dont submit anything to companies house and they will struck the company off the register.

HMRC could be tricky if the business was trading then you have to file the accounts and put a note that the company will not be trading after this. Or if the company was not trading then just write them a letter letting them no about the company being dormant and you are closing it down.

Best is to ask an accountant to help you.