Reply to: Closing my company

[mudskipper]

Thank you, all, for your helpful advice.

I've spoken to a few people and there seems to be no real benefit to closing down the company and I should just do the submission of accounts online for £13 and just fill in the self assessment which is rather small.

Keeping in dormant then is just a matter of paying each year for the submission of accounts.

It's the Companies House return which is £13, not the submission of accounts. The cost of getting things wrong can be expensive (penalties), so, if there is anything you are uncertain of, your best bet is to close it, and open a new company if and when you need it.

[SueEllen]

If your HR is anything like mine was, they will do a director's search and start questioning what are you doing with the other company.

In some sectors they need to know if you have a conflict of interest and in others they need you to confirm your working hours in all jobs.

I remember being at a client where a woman was a director of her spouse's company but did sod all except randomly sign some paperwork. Due to the company having industrial plants where workers couldn't work over certain number of hours a week they insisted she listed her weekly working hours. This was amusing simply because they weren't allowed to distinguish purely office based work due to some roles in their plants being a mixture.

[JB3000]

Thank you, all, for your helpful advice.

I've spoken to a few people and there seems to be no real benefit to closing down the company and I should just do the submission of accounts online for £13 and just fill in the self assessment which is rather small.

Keeping in dormant then is just a matter of paying each year for the submission of accounts.

If your HR is anything like mine was, they will do a director's search and start questioning what are you doing with the other company.

You are just chucking £13 away each year for no reason (annual return fee). Plus the time spent completing the dormant accounts to Companies House. However, as someone else mentioned in other thread, if you like doing this type of thing in your spare time........

[Yonmons]

I am exactly the same position as the OP, DS01 has been submitted and my Ltd Co is due to be struck off by companies house today after the 3 months Gazette post. I dont see any point in putting it dormant, I dont like the legal aspect of companies house chasing me to submit forms under threat of financial penalty if not done. Its easy, and cheap enough to set up a new Ltd Co in the future if I require one.

[gables]

This. I'd just shut it to get rid. One less thing to worry about particularly when it's so easy and quick to get one going.

Yup defo get it shutdown, unless the company name is something you want to keep. Also, I set mine up in two days for £15 all on the Companies House website.

[northernladuk]

If you think you'll use it in the future then yes keep it going, however most accountants offer free formation and can have the company ready within a week, so may not be worth it.

This. I'd just shut it to get rid. One less thing to worry about particularly when it's so easy and quick to get one going.

[Dan@OrangeGenie]

Thank you, all, for your helpful advice.

I've spoken to a few people and there seems to be no real benefit to closing down the company and I should just do the submission of accounts online for £13 and just fill in the self assessment which is rather small.

Keeping in dormant then is just a matter of paying each year for the submission of accounts.

If you think you'll use it in the future then yes keep it going, however most accountants offer free formation and can have the company ready within a week, so may not be worth it.

[Michael at BI Accountancy]

Keeping in dormant then is just a matter of paying each year for the submission of accounts.

https://www.gov.uk/government/upload...unts_dca_2.pdf

Maybe worth submitting the dormant accounts using the form above (given there is no activity in the company).

[ChristopherJames]

Thank you, all, for your helpful advice.

I've spoken to a few people and there seems to be no real benefit to closing down the company and I should just do the submission of accounts online for £13 and just fill in the self assessment which is rather small.

Keeping in dormant then is just a matter of paying each year for the submission of accounts.

[JB3000]

Hi, apologies for the ignorance of this post, however I'm a little confused with my current predicament.

I was offered a contracting role late last year so I created a limited company however I decided against it and declined the offer. I'm getting a bit sick of all the spam and constant identity theft junk that is coming through and I don't really want the rigmarole of sending in documents to HMRC every year whilst I'm happy employed by another company.

I'd like to close my company; I bought no assets, didn't trade, nor received any payments. Is it just as simple as striking this off using DS01 or do I need to do anything else? I have never submit anything to HMRC

Thank you!

Probably the most important thing (that no one appears to have mentioned) is you may want to change your registered office and service address before you submit the DS01. That way, at least your home address will be slightly more hidden and harder for fraudsters to find. If you don't do this, your home address will always appear on the Companies House website and all those other websites that use data from Companies House.

[northernladuk]

Closing a Ltd company that hasn't traded | UK Business Forums

Closing down a Ltd company that has never traded | UK Business Forums

Closing a Limited Company that has never traded | UK Business Forums

https://www.1stformations.co.uk/blog...company/#Part2

and so on....

There was the following bit advice on one of the other threads about this that was interesting as well.. From Greg@Capitalcity just in case it's not needed

The other thing I would suggest alongside Clare's comment, is to write a letter to your Corporation Tax office to advise them the company never traded and will shortly be struck off the Companies House register. When a company is formed, the HMRC will auto set it up for Corporation Tax - you should have received a letter (posted to the registered office address) from the HMRC with your company tax reference number on it - use that when writing to them.

[ASB]

http://forums.contractoruk.com/accou...y-dormant.html

[Michael at BI Accountancy]

Hi Christopher,

If you did not register for any taxes (VAT, PAYE etc) and you do not have an active company bank account, then yes, simply submit the DS01.

[Alan @ BroomeAffinity]

Complete a DS01 and submit to companies house. Write to HMRC tell them you haven't traded and to close down ct record.

[administrator]

116 views and no helpful accountant to give a quick bit of advice here? IANAA and not got time to look it up, anyone know this one off the top of their heads?