Reply to: Reopening a company vs open a new one

[sthotakura]

The £375.00 penalty was for Companies House though right? Why call HMRC?

Sorry, I must have been confused.

[Nathan SJD Accountancy]

Thanks for your reply. There was fine of £375 for filing accounts late. I called up HMRC to discuss and they said since the company has not been trading since 2009, they suggested me to dissolve the company so that the fine would die along with the company. Do you see any problem here now?

Nope. As long as the company had settled all liabilities, I can see no issue with opening another company.

The £375.00 penalty was for Companies House though right? Why call HMRC?

[sthotakura]

Can't see any issue with it at all.

I am assuming that the first company you dissolved settled all of its liabilities to HMRC etc?

Just out of interest, why did you close the 1st company down?

Thanks for your reply. There was fine of £375 for filing accounts late. I called up HMRC to discuss and they said since the company has not been trading since 2009, they suggested me to dissolve the company so that the fine would die along with the company. Do you see any problem here now?

[BolshieBastard]

Hi,

I am in a similar situation. I had registered a company sometime in 2008 (didnt opt for FRS). The company only traded for a year and after that it was put in DORMANT state. Finally, I dissolved that company last year (Nov 2012). I now have got another contract opportunity and planning to create a new company. Would I face any problems such as '2 companies in one financial year' ?

Thanks in advance

You can register as many companies as you want at any time AFAIA and be a director of them providing you are not barred etc.

[Nathan SJD Accountancy]

Hi,

I am in a similar situation. I had registered a company sometime in 2008 (didnt opt for FRS). The company only traded for a year and after that it was put in DORMANT state. Finally, I dissolved that company last year (Nov 2012). I now have got another contract opportunity and planning to create a new company. Would I face any problems such as '2 companies in one financial year' ?

Thanks in advance

Can't see any issue with it at all.

I am assuming that the first company you dissolved settled all of its liabilities to HMRC etc?

Just out of interest, why did you close the 1st company down?

[sthotakura]

Similar Situation

Hi,

I am in a similar situation. I had registered a company sometime in 2008 (didnt opt for FRS). The company only traded for a year and after that it was put in DORMANT state. Finally, I dissolved that company last year (Nov 2012). I now have got another contract opportunity and planning to create a new company. Would I face any problems such as '2 companies in one financial year' ?

Thanks in advance

[Goggy]

Thanks a lot for all your answers guys!

[Jessica@WhiteFieldTax]

Sounds interesting!
Could you please let me know who are your accountants? (you can drop me a private message if you prefer)

I doubt it matters - my accountants offer the service of having their office as the registered office for the company, so they must do it all the time.

I think just about every accountant offers that. Some may charge for it some don't

[northernladuk]

InTouch.

If you go with them, tell Clare that I referred you, and I get a free month

And tell them NorthernladUK says hello and I might get a bit less grief from her on the forums!

[TheFaQQer]

Sounds interesting!
Could you please let me know who are your accountants? (you can drop me a private message if you prefer)

InTouch.

If you go with them, tell Clare that I referred you, and I get a free month

[Goggy]

I doubt it matters - my accountants offer the service of having their office as the registered office for the company, so they must do it all the time.

Sounds interesting!
Could you please let me know who are your accountants? (you can drop me a private message if you prefer)

[TheFaQQer]

To open it later(after the 5th of Apr) is not that much of a problem,
but I'm not sure if it's a good idea to I agree on a contract that starts before the end of the March (25th of March, let's say). I think it's better to wait till the beginning of the new fin year so that I don't have 2 companies in the same fin year especially with the same address.
Am I right? or it doesn't matter?

I doubt it matters - my accountants offer the service of having their office as the registered office for the company, so they must do it all the time.

[Maslins]

Can't see any major issues. If you did benefit from ESC C16 on closure, I'd be inclined to NOT use the same company name. You'd want to minimise the (small) risk of them arguing you just closed to get the tax break then start straight back up doing the same thing.

[northernladuk]

Hi

I've closed down my company on the 31th of March 2012 & had a gap year.

Now I'm looking for a job and thinking of contracting again. Therefore I'd need to open a company from the 5th of Apr. (not to have 2 companies in the same financial year)

1) Can I open a company with the same name or it should be a brand new one?
2) Can the same business address & business owner raise a concern to HMRC people?

Any advice/recommendation/useful info is highly appreciated!

<pedant>So which is it? Are you going contracting or are you looking for a job..... : </pedant>

[northernladuk]

Although the timescales would indicate you are not pheonixing, wouldn't re-using the name possibly attract unwanted attention and cause you have to prove the same? Wouldn't it just be better to start again? You cannot re-use any systems associated with the old company, bank accounts etc and you would have a new registration number anyway.

Why not just start with a new company and new name and start afresh? What are the benefits to you about keeping the old name? Old times sake? It was your first company??