Advice please on closing my business under these below circumstances

Discussion in 'Insolvency' started by Loz3, Dec 31, 2019.

  1. Loz3

    Loz3 UKBF Newcomer Free Member

    26 0
    Hi Spongebob,
    As you know, I went personally bankrupt in November last year and had to remove myself from being a Director of my company. Now the company has no Directors and is still active on Companies House. I've received a statutory notice of overdue accounts (due end of December 2019) and if I do nothing, they will begin the statutory process which can lead to the company being removed from the register but that my personal obligations as directors would remain (but I'm not a Director anymore and it shows this on Companies House also! HMRC have also written and given me a final notice to pay £00 penalty for Corporation Tax penalties due to not filing the companys corporation tax return on time.
    What should I do about this? I am closing the business address where all post was delivered as its not needed now, but then I won't know what letters are being sent and if I am meant to be doing anything about all this?
    Please if you can advise, I would be most thankful.
     
    Posted: Feb 5, 2020 By: Loz3 Member since: Dec 31, 2019
    #41
  2. Loz3

    Loz3 UKBF Newcomer Free Member

    26 0
    *Should say "HMRC have also written and given me a final notice to pay £200 penalty for Corporation Tax penalties"
     
    Posted: Feb 5, 2020 By: Loz3 Member since: Dec 31, 2019
    #42
  3. Loz3

    Loz3 UKBF Newcomer Free Member

    26 0
    That should have said a penalty of £200
     
    Posted: Feb 5, 2020 By: Loz3 Member since: Dec 31, 2019
    #43
  4. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

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    You don't have the capacity to do anything as you are no longer a Director.

    Eventually the Company will be struck off by C House for non filing of returns and will die.
     
    Posted: Feb 5, 2020 By: Lisa Thomas Member since: Apr 20, 2015
    #44
  5. Loz3

    Loz3 UKBF Newcomer Free Member

    26 0
    Thank you for your reply Lisa, which is much appreciated. Are HMRC likely to do anything/take it further though, when they don't receive the company tax return as they are still sending letters out and adding penalty's on? It shows on Companies House that there are no Directors, since November 2019?
     
    Posted: Feb 5, 2020 By: Loz3 Member since: Dec 31, 2019
    #45
  6. Scalloway

    Scalloway UKBF Legend Free Member

    16,170 3,420
    HMRC will continue to send reminders to the company until it is struck off, then the debt will die with the company.
     
    Posted: Feb 5, 2020 By: Scalloway Member since: Jun 6, 2010
    #46
  7. Loz3

    Loz3 UKBF Newcomer Free Member

    26 0
    Thanks for your advice/help Scalloway. Just feel out of my depth with all this and the companies who I had business loans with, but which I have personally guaranteed, are continuing to send defaults and ask for full payment and also asking what is happening with the business, but like Lisa on here said, I don't have the capacity to do anything as I am no longer a Director.
     
    Posted: Feb 6, 2020 By: Loz3 Member since: Dec 31, 2019
    #47
  8. Mr D

    Mr D UKBF Legend Free Member

    22,821 2,747
    The personal guarantee you can deal with as its your debt.
    As business is not paying it the creditor will chase you personally.
     
    Posted: Feb 6, 2020 By: Mr D Member since: Feb 12, 2017
    #48
  9. Loz3

    Loz3 UKBF Newcomer Free Member

    26 0
    Yes, but as I am personally bankrupt as of November 2019, it has been included within the bankruptcy but they still email to ask what is happening with the business and still send out default letters and demand immediate full payment etc. As the business is still active, they continue to ask what is happening to the business.
     
    Posted: Feb 6, 2020 By: Loz3 Member since: Dec 31, 2019
    #49
  10. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    3,515 445
    You need to ignore the HMRC corres re the Ltd Company.

    Either a) HMRC will Liquidate the Company (unlikely) or b) C House will strike it off.

    Any personal tax debt you have for the year to April 2020 will form a claim in your Bankruptcy.
     
    Last edited: Feb 6, 2020
    Posted: Feb 6, 2020 By: Lisa Thomas Member since: Apr 20, 2015
    #50
  11. Loz3

    Loz3 UKBF Newcomer Free Member

    26 0
    Ok, thank you very much Lisa. I really appreciate your advice and help.
     
    Posted: Feb 6, 2020 By: Loz3 Member since: Dec 31, 2019
    #51
  12. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    3,515 445
    You're welcome.
     
    Posted: Feb 6, 2020 By: Lisa Thomas Member since: Apr 20, 2015
    #52