Recent content by James Parnell

  1. James Parnell

    Director Selling Product Stock to LTD Company - directors loan?

    Thank you! Can this be a simple invoice with just the amount of stock loaned and the price of that stock? Or does it have to be a specific invoice?
  2. James Parnell

    Director Selling Product Stock to LTD Company - directors loan?

    Would there be any specific paperwork that needs to be filed? Or do I just invoice the company?
  3. James Parnell

    Director Selling Product Stock to LTD Company - directors loan?

    Hello Guys, If I purchased product stock personally, not through a ltd company and then started a limited company and wanted to sell that stock through the limited company - How do I go about doing this? Would it be a directors loan for the amount of stock and price for each billed to the...
  4. James Parnell

    Final Accounts and Dormancy Question

    Thank you! However, I read this on informdirect.co.uk "In addition to bank charges, earning interest on a bank account will cause a company to lose dormant status since this too will be considered a significant accounting transaction" My concern is that after any tax or vat is paid out to IR...
  5. James Parnell

    Final Accounts and Dormancy Question

    Hello, I have paid my accountant to prepare and submit the final accounts for a failed business after 3 months of trading, the company was registered voluntarily for VAT also so this is currently being de-registered. The final significant payment that went out of the bank account was for the...
  6. James Parnell

    Cessation of Person with signifcant control - what happens to shares?

    Hello, I have tried to find the answer to this question but I can’t seem to get an answer, I hope someone can help me. If someone with significant control are ceased in a limited company do they lose their shares in the company and if so what happens to those shares? Thank you,
  7. James Parnell

    Close LTD Company - Bank account question?

    Hello, I am the only shareholder and director of my ltd company, soon it will be dormant. After 3 months I plan to dissolve the company, the company stopped trading 2 weeks ago. When the company was set up it was a joint venture, so the business bank account is a joint account with me being...
  8. James Parnell

    Change LTD Co. name before Dissolution?

    Would it be a good idea to change a company name that you wish to use as a sole trader before dissolving it? I am thinking about google and how when someone searches for my business the companies house information comes up - It might look weird if it says 'dissolved'. Another question I had was...
  9. James Parnell

    19 year old, need help please.

    Stock wasn't purchased by the company, it was something that I already had, no equipment was purchased either. The accountancy fees will most likely have VAT so that will be a deductible expense!
  10. James Parnell

    19 year old, need help please.

    There wont be any debts as the business hasn't got any overheads and the company will only use money generated by the business. I do understand that LTD companies can be better in situations that you could be sued or have large out goings.
  11. James Parnell

    19 year old, need help please.

    I am 100% sure that I want to become a sole trader, the limited company route isn't something that I wish to continue with. If that means that I come out of this with 0 profit made due to closing the business its not a problem, I've learnt a hell of a lot and I'll just move forward. I do not...
  12. James Parnell

    19 year old, need help please.

    Hello, the name that I have put on my profile is not exactly correct because I wish to remain anonymous but I can assure you that I am the director and shareholder. I appreciate you looking out for me however! The situation I find myself in and everything else is true though.
  13. James Parnell

    Closing LTD company, docs to prepare?

    Thank you, I'll look into quickbooks - I have no issue paying what ever needs to be paid to get this over and done with but £1000 seems a bit steep.
  14. James Parnell

    Closing LTD company, docs to prepare?

    Okay thanks Scalloway, you have been an incredible help throughout this process and it doesn't go unappreciated. I have been quoted £500 plus VAT for an accountant to do it but they mentioned that there is another accountant looking over the company and I would need to get authorisation from...
  15. James Parnell

    19 year old, need help please.

    I don't want to disclose the company but yes I am the only director and share holder, he has resigned as director and his shares have been ceased.
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