What exactly does dissolved mean

[Shellsbells]

Hi,

My company was forced into compulsory liquidation January 2017.

Chased the IP over and over and then gave up. Heard nothing. Just happened to check Companies House and it says company dissolved. I have no paperwork, no correpondence from them at all. Does "dissolved" mean all matters have been concluded and I can put the whole sorry mess behind me?

 

[Scalloway]

It means it is an ex company, has ceased to be and all debts have died with it.

 

[Shellsbells]

Does that include any directors loan account?

 

[Scalloway]

If the directors owed the company money HMRC may expect them to pay tax on the money they received.

 

[Shellsbells]

Ive just realised they have my old address on the "Notice"...they do have both our emails tho...do I contact them or wait for them to find me?

 

[Scalloway]

If they do not have an up to date address for you it may be better to contact them to avoid penalties.

 

[Rob Dunner]

If there was an overdrawn Director Loan which there more often than not is in the sort of scenario you describe then you must declare on your self-assessment and this is a responsibility and legal requirement which is not in any way dependent on whether the company is dissolved!!! The situation could not be clearer as far as HMRC is concerned. By self-assessment I mean personal self-assessment. Furthermore if no final accounts are available before dissolution then the income must still be declared for personal income tax purposes on the self-assessment to HMRC; whether Director Loan or otherwise you are still bound to declare the income.