Closing Down

[OrangeHopper]

A year ago the decision was made to close down the company.

Final accounts were prepared and submitted.

VAT 7 submitted. Final VAT return submitted.

P35 submitted.

Insufficient possible capital gains to be had so no application for dispensation.

Now I believe I only need to submit a DS01 to HMRC.

Company owes no one, no one owes the company.

Is there any reason why I can't close the bank account?

I ask because my ever efficient accountant left recently and the replacement is extremely slow to respond to my questions.

[Craig@Clarity]

I can't see why not. As long as the any outstanding final CT is paid, PAYE scheme closed, you should then close the company accounts down and then send in the DS01 with your £10 cheque. Then it's a matter of sitting around for 4 months waiting for it to be official struck of the companies house register.

[OrangeHopper]

Forgot to say CT has been paid.

Re PAYE. P45s have been raised and no employees now appear on the online service. Do I need to do anything further?

[Greg@CapitalCity]

In addition to what Craig says, I suggest you also write a letter to the PAYE office to advise them all final returns have been filed, that the company will shortly be struck off the CH register, and request that they close down the PAYE scheme.

Also do the same for the Corp Tax office - although they often pickup on this through Companies House, but it might just help grease the HMRC wheels.

[OrangeHopper]

Thanks very much for your advice.

[northernladuk]

Thanks very much for your advice.

Quick and helpful advice from our regular accounting friends as always. Nice work.

[VectraMan]

You're meant to notify any "interested parties", which includes HMRC. I sent a copy of the DS01 to HMRC, and then went to see the bank to close the account and gave them a copy too. Extract any money before hand as you won't get it, the treasury do.

It was all surprisingly painless.