S
seanchai
- Original Poster
- #1
Hi - last year I made my company dormant for corporation tax purposes as the company is no longer trading. Now I'm due to submit a confirmation statement to Companies House, which costs about £13 each year to submit.
I'm trying to decide whether to shut down/dissolve the company completely so I dont need to do these annual submissions to Companies House, or whether to stay Dormant.
My company owes me money as I had financed it myself for quite some time but things didnt work out so I decided to make it dormant, in the hope that maybe someday I would start it up again and recoup the money the company owes me. However, I'm not sure that's worth it anymore, or even possible.
Companies House seem to require a confirmation statement and a submission of Company Accounts eventhough I'm dormant. My questions are the following:
1. If I dissolve the company will that mean I no longer need to submit anything to Companies House?
2. If I'm a Creditor to the business, how do I go about dissolving the company as I read that the procedure is different if there are creditors (although I'm not sure thats relevant for me as I'm the director and the only creditor)?
3. If I continue submitting accounts to Companies House, it'll just be the same accounts each year until I decide to restart the business, which will show the same loss as when i went dormant last year - Am I allowed to continue carrying that loss forward each year for tax purposes? [The loss effectively equates to the amount I'm owed as a creditor, which also means I have a Negative balance sheet balance.]
4. Given the above what would you advise - shut down or stay dormant?
I'm trying to decide whether to shut down/dissolve the company completely so I dont need to do these annual submissions to Companies House, or whether to stay Dormant.
My company owes me money as I had financed it myself for quite some time but things didnt work out so I decided to make it dormant, in the hope that maybe someday I would start it up again and recoup the money the company owes me. However, I'm not sure that's worth it anymore, or even possible.
Companies House seem to require a confirmation statement and a submission of Company Accounts eventhough I'm dormant. My questions are the following:
1. If I dissolve the company will that mean I no longer need to submit anything to Companies House?
2. If I'm a Creditor to the business, how do I go about dissolving the company as I read that the procedure is different if there are creditors (although I'm not sure thats relevant for me as I'm the director and the only creditor)?
3. If I continue submitting accounts to Companies House, it'll just be the same accounts each year until I decide to restart the business, which will show the same loss as when i went dormant last year - Am I allowed to continue carrying that loss forward each year for tax purposes? [The loss effectively equates to the amount I'm owed as a creditor, which also means I have a Negative balance sheet balance.]
4. Given the above what would you advise - shut down or stay dormant?
