- Original Poster
- #1
A few years back a friend and I setup a Ltd Co to cover some out of hours affiliate marketing activities - it started off well, but in the last 2 years lack of time has meant it has tailed off completely.
Last financial year ended 28th Feb, and we have not yet filed accounts for that period. We made a loss for that year (and since) and the cash in the business has dwindled to almost nothing.
We won't owe any suppliers anything as our only costs were web hosting which we will settle up to date, have never been VAT registered so owe the VAT man nothing, and will have made a loss so there is no Corp Tax to pay.
Do we have to pay an accountant to make up our accounts to end of last financial year (and what about period since) or can we effectively close down the company (owing nothing to anyone) without filing accounts?
My day job is an IT Consultant working through a different Ltd Co - which is doing well, established 10 years and has great credit rating - I'd rather swallow a few bills and keep that away from any stigma or issues winding this small co up will bring - if any?
Last financial year ended 28th Feb, and we have not yet filed accounts for that period. We made a loss for that year (and since) and the cash in the business has dwindled to almost nothing.
We won't owe any suppliers anything as our only costs were web hosting which we will settle up to date, have never been VAT registered so owe the VAT man nothing, and will have made a loss so there is no Corp Tax to pay.
Do we have to pay an accountant to make up our accounts to end of last financial year (and what about period since) or can we effectively close down the company (owing nothing to anyone) without filing accounts?
My day job is an IT Consultant working through a different Ltd Co - which is doing well, established 10 years and has great credit rating - I'd rather swallow a few bills and keep that away from any stigma or issues winding this small co up will bring - if any?
