Closing a LLP in first year, Do I still need to complete end of year accounts?
In need of a bit of advice here!
My sister and I set up a LLP last year and to cut a long story short its not gone to plan. She wants out and I have to say I am somewhat relieved as I knew that having an LLP would be a pain in the backside, as opposed to being a basic partnership. I am going to start again as a sole trader so we need to get the bank accounts closed, parnership dissolved ect. I've been informed that for an LLP to be dissolved, It needs not to have traded within 3 months, thats not a problem as we have done nothing since february. We have no debtors or creditors. So we will effectively be no more after may, and Im wondering now if we will still need to file our accounts with companies house being as we have not lasted a year? I suspect yes, but Im hoping no, as the accountant is extremely expensive. Downsides of having a LLP and of working with family!