HELP CLOSING A LTD COMPANY

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A

ann

  • #1
    Hi,

    What is the process of closing a Ltd company down, don't trade no more with no debts etc just needing to close the company.

    Also if the company is not trading does it still have to submit an annual return, I mean there isn't anything in the books.

    Any advice as to what to do?

    Much appreciated.

    Ann
     
    bwglaw

    bwglaw

    Free Member
    Apr 8, 2005
    4,567
    242
    Richmond, Surrey
  • #2
    ann said:
    Hi,

    What is the process of closing a Ltd company down, don't trade no more with no debts etc just needing to close the company.

    Also if the company is not trading does it still have to submit an annual return, I mean there isn't anything in the books.

    Any advice as to what to do?

    Much appreciated.

    Ann
    Click to expand...

    If it has no debts then its a straight-forward process to have the company dissolved. All the forms are on the Companies House website at http://www.companieshouse.gov.uk
     
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    A

    ann

  • #4
    Hi,

    Thank you guys for your posts. The accountant was informed however having some "personal probs" so he's been a little behind with things.

    Went to companies house, check the forms section but could only find a form for "application for striking off" couldn't find anything about form to dissolve a ltd company or is it same thing?

    Is it simply just fill in the form with fee of £10 and then that's it. How long does it take for the whole process to be completed?

    Thank you,

    Ann
     
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    Alpha

    Alpha

    Free Member
    Feb 16, 2004
    3,192
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    West Midlands
  • #5
    Ann

    Thats the form that you need. You will need to send that form and the cheque to companies house. They will put the application in the London Gazette where anyone can contact them to object to the striking off.

    It will be about three months before the company is officially struck off.

    You will also need to send a copy of the signed form to HMRC for both corporation tax purposes and vat if you are vat registered.

    You must still complete any outstanding corporation tax forms and pay over any tax due.

    Any assets in the company must be sold to yourself or someone else and accounted for.

    ensure that no money or assets remain in the company when it is struck off or they will revert to being property of the crown.

    Please note that if there are substantial assets or cash in the company the advice here would be slightly different and you really must seek advice from an accountant on the best way to proceed.
     
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    S

    Stephen

    Free Member
    Feb 24, 2004
    176
    0
    UK
  • #6
    Yes, the forms are for striking off the register of companies, (which I believe will be posted in the London Gazette to give someone a chance to object).

    As said, without any claims against the Company, you should thereafter receive a notice that the process is complete.

    Companies House have a pretty good helpline - might be worth making sure everything is in order with them before you return the forms.

    I assume that you are a director of the Company in question? If not, you can (I believe still) get round this little problem quite easily too!

    Best wishes,
    Steve
     
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    G

    GingerRav

  • #7
    Hi Folks,
    I've been quoted a fee of £200 by Paystream to close down my Ltd company. They have also told me that if I get another accountant to close it, they are not obliged to provide the necessary information that they hold. Can this be right? I feel like I'm being robbed. The fee last year was £98, but this year they've decided to hike it up by more than 100%.:mad:

    Any advice will be greatfully receieved.
     
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    G

    GingerRav

  • #9
    Hi Jenni,

    The situation is that I was an IT contractor with my own ltd company. I am now employed full time permanent and wish to close the company. A friend of mine is in the same situation. He asked for his company to be closed approx 8 weeks before I asked about mine. He was quoted £98 and I was quoted £200. When I queried this, they told me that they have raised the price and that's that.
     
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