Reply to: Closing myCo

[THEPUMA]

Why do you have to ask them for clearance? the bank account is empty and nothing is owing? (In My Case) YMMV

Not sure where everyone has got the impression that this guy is evading tax. His post clearly states that he owes nothing. Since the company has been dissolved and there is no tax owing, that's the end of it.

PUMA

[Stag Cozier]

I think that is what they call tax evasion!

[SackmanandCo]

I think that is what they call tax evasion!

[Stag Cozier]

If your company is struck off then you have the decision to make. Either hold your hands up and inform HMRC and pay the tax across or keep schtum!

If you hold your hands up, you need to submit a final set of accounts and CT return so that they can assess and agree the tax. They'll then restore the company and bank your CT cheque. You'll then have to submit another DS01 and dissolve the company.

If you keep quite and the tax is a couple of quid, it's unlikely they'll bother. For starters, you'll be off the radar.

[Stag Cozier]

All strike off applications to C House are automatically sent to HMRC for approval

Since when are Companies House and HMRC in cahoots???

[SackmanandCo]

You must pay the tax, even if Companies House dissolve the Company.

[Clare@InTouch]

So what do you guys mean by "striking off"? Is this the same as "dissolved"?

myco is marked as dissolved on Companies House, does that mean its been through HMRC approval or is there another stage?

Not necessarily. Companies House will start proceedings to dissolve a company when they receive a DS01 form. If you haven't submitted final accounts to HMRC and paid any taxes due then HMRC will usually object and the process will be stopped. Sometimes though, HMRC don't see it and the dissolution goes through regardless.

Just because it's dissolved it doesn't mean HMRC are happy. In theory they could apply for the company to be restored if you owe enough tax.

[gadgetman]

So what do you guys mean by "striking off"? Is this the same as "dissolved"?

myco is marked as dissolved on Companies House, does that mean its been through HMRC approval or is there another stage?

[Wanderer]

All strike off applications to C House are automatically sent to HMRC for approval

Yes, exactly. I was thinking that if you get everything straight with HMRC before you apply to strike off then maybe it will go a bit smoother. I don't know if that's right or not though...

[Papavar]

And after all this... sit back and prepare for a long wait. It took approx. 18 months for MyCo to be dissolved, though whether that was down to a slack accountant or a long drawn out process, I couldn't tell.

[SackmanandCo]

If you don't then their standard response may be to object to the striking off because they don't know if there is any tax outstanding. If you contact them first then things may go a bit more quickly.

Your accountant will be able to advise you...

All strike off applications to C House are automatically sent to HMRC for approval

[Wanderer]

What clearance would I need from HMRC in order to close my company???

If you don't then their standard response may be to object to the striking off because they don't know if there is any tax outstanding. If you contact them first then things may go a bit more quickly.

Your accountant will be able to advise you...

[SackmanandCo]

yes

[Stag Cozier]

firstly it will mean they remove you from their records, otherwise they may still send you correspondence and secondly its recommended best practice

Are you referring to clearance as in applying for ESC C16? I imagine you referring to a letter to HMRC along the lines of "Dear HM, can I close my company down please?"

[SackmanandCo]

firstly it will mean they remove you from their records, otherwise they may still send you correspondence and secondly its recommended best practice