Shutting down my limited company

[sugsy]

yes i have gone to the dark side and gone permanent after 5 years at the same job.

I am looking to close down my limited companies, any good tips on do`s and dont`s before i action it.

someone said to buy a travel pass for the year and expense what i need 1st ?

any help guys ?

[ASB]

If it's got any dosh go for ESC C16 and take it as a captial distribution. The search button is your friend. The most recent time this was covered is here:
http://forums.contractoruk.com/thread16811.html

[sugsy]

someone told me to purchase as much tax deductible stuff as possible that i require to do my job before shutting down company

[ASB]

Ok, so company has retained funds of, say, 20k.

You could make yourself a capital distribution of 20k and probably receive 20k (depending on how long the company has been trading and your CGT position). You can spend this as you see fit.

Equally you could buy loads of stuff that you might want/need which might reduce the distributable reserves. These might might get challenged.

I have no idea of your personal tax position or how long the company has been running or how much is in the bank, all of which is relevant. You could easily review the threads and compare them to your position. Then you'll get a much better idea of what might be appropriate for you. There is no one right answer.