Been "inside" for about 2 years so thinking it's time to close the company, I have managed to fire as much into my pension as possible and with his years contributions I can get the cash in the company down to under the capital treatment threshold of £25k so don't need to bother with the MVL rotue
As I understand it the process is quite simple
As I understand it the process is quite simple
- Dispose of any company assets (bascially buy them from the company at fair price)
- Deregister for VAT (should this be done before or after above)
- Deregister for PAYE
- File your accounts and company tax return, stating that these are the final trading accounts and that the company will soon be dissolved
- Pay any liabilities
- Close bank and distribute any asstes (as it will be under £25k, the two shareholders have a CGT allowance of £12300 there should be no tax to pay personally)
- File a DS01 with companies house
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