Closing a limited company help

[Daryl89]

Hi all,

I have a small limited company that I now no longer need as I’ll be going back into employed work.

I need some help with what I need to do, the business was in building work and only completed around 15 jobs and has no assets. The business currently has one employee who completed admin work. She will no longer be working. There is only minimal money in the business bank account.

How hard is it to close a Ltd company and what costs are involved

 

[Lisa Thomas]

Is it solvent?

Is the employee entitled to redundancy pay and if so have you factored this in?

Are there any creditors? You will need to file final returns with HMRC.

It sounds like ordinary dissolution might be the best route.

The Company's accountants should be able to help with this if the Company is solvent.

Failing which you should seek insolvency advice to check dissolution is the correct option.

More details here:

https://www.gov.uk/government/publications/company-strike-off-dissolution-and-restoration