In the event of your death....

[badger7579]

Probably been asked before but struggeling to find anything on the forum search.

What happens to you Ltd company and the cash in it (Assuming you have some) after you (the director) dies? Is the company wound down and then the assets become part of the directors estate, after all taxes paid VAT corp tax etc..?

[Paddy]

Probably been asked before but struggeling to find anything on the forum search.

What happens to you Ltd company and the cash in it (Assuming you have some) after you (the director) dies? Is the company wound down and then the assets become part of the directors estate, after all taxes paid VAT corp tax etc..?

Somebody fills in a form and appoints them self director and draws all the money out of you bank account

[Alf W]

The Ltd Co is a completely seperate entity in its own right from you as an individual. You just happen to own some (all) of the shares in it. When you die, those shares go to whoever inherits your estate. As the new owners they can then decide whether to install new directors or whether to wind everything up.