Newbee with Tax question

[dez]

Hi All,
My name is Dez, Stubbled across your friendly forum whilst searching for info online.

I have an IT repair company which is an LTD and we used to be contracted for repairs for commercial sized companies. Once the down turn started sneeking up on us we lost 3 of our largest paying contracts in Setpember 08. Our company accounts were filed for that year in June 09. (Year end was october 08). After loosing our biggest paying contracts we decided to continue through the recession and try to rebuild the business by sept09 it was clear that we were getting nowhere and were left with opportunities that could not support our over heads. We have been making a loss on the business for a long while. Which was such a shame as it started off so well.

I have rebuilt my business model overseas and its doing extremly well and I will be leaving the UK to persue it further however I want to close this company down asap. There are 2 directors on the business name, can I resign if he agrees to take care of it all?

My self assement is up to date and there isnt more than a few hundred left in the business bank. Can we file a 625a or would we need to file accounts and then file a 625a?

Any info much appreciated.


Many Thanks,

Des



We haven't traded at all for 4 months. There are 2 directors on the company, can we just file a 625a form or do we need to

[administrator]

Bump to accounting...

[malvolio]

Quick answer is yes, but there are a lot of potential pitfalls which are best avoided, even if there is no money worth worrying about. You really need to talk to an accountant.

[Clare@InTouch]

A 652a (now known as a DS01) can be filed at Companies House without the need to bring the accounts up to date, but you'll need to file accounts at HMRC anyway to determine the final tax position.

As Malvolio rightly says, talk to an accountant.