Closing ltd or make it dormant for non UK resident director

[Lance]

It's so easy, quick and cheap to strike off a limited company, I can't think of a reason not to.

It's so easy quick and cheap to form a new limited company when you want one, I can't think of a reason to do anything else.

This ^^^^^^


assuming less than £25k in the bank anyway.

[Fred Bloggs]

It's so easy, quick and cheap to strike off a limited company, I can't think of a reason not to.

It's so easy quick and cheap to form a new limited company when you want one, I can't think of a reason to do anything else.

[genji7]

Hello,
I'm considering either closing my ltd or making it dormant and doing the annual accounting stuff.

Since my last contract with the UK client ended in 2021, the company has stopped trading and I qualified as a non-UK resident as I've been living overseas for a few years now. I was happy to pay a reduced monthly cost to maintain the ltd as I want to go back to the UK contract market and don't mind moving back. But my accountancy advised me that they only charge the lump sum annum cost that is distributed monthly, hence I better look for an accountant who just charges the one-off fee for the simplest accounting for the ltd with nill transaction. Last week, the current accountancy removed my ltd from their platform hence I need to decide the future of the ltd.

The ltd will consume all funds after I claim dividends in a new tax year and currently, I'm looking to move back into the UK contract market with the right opportunity.

The question is:

1. In the case of making a company dormant officially, as a non-UK resident, is it easy to open a biz. bank account without UK address? I understand many directors choose to close the biz. bank account to prevent any transactions that potentially trigger non-dormancy hence asking. There is no interest earned in my biz. banking account hence I see not necessary but it would be great to know about this if anyone has experience on this point.
2. In the case of closing an ltd, is it true that the two years rule of being unable to start another ltd is not applicable if no capital distribution? There will be no funds left in ltd after I take the dividends in a new tax year. Or am I going to be unable to start another ltd right after closing it just in case I get a client contract right away?
3. Is it easy to set up ltd from overseas without UK address? Again, for anyone who has gone this path, any advice would be appreciated.
4. Lastly, would anyone recommend an accountant who can perform the annual accounting practice for the dormancy company with a reasonable one-off cost? if anyone knows any accounting firm or individual, please advise.
5. With all uncertainty, would you rather keep the ltd with the dormant option now or close it once and restart when I secure the new contract (whenever that will be)?

Many thanks in advance, any advice would be highly appreciated. Cheers