Good evening,
I am the only director of LTD company that I will need to liquidate (actually that should have happened a while back), which was used as LTD for working as a contractor and in periods I had my partner also employed for my own company. About after pandemic period and furlough scheme LTD became inactive and I have removed all employees from payroll and just paid to accountant to have my accounts up to date. After preparing yearly accounts I ended up working with accountant and refused to pay the quote for company liquidation so it has not been done up to now and I would like to do it myself.
So far I have done following:
Kind regards
Alex
I am the only director of LTD company that I will need to liquidate (actually that should have happened a while back), which was used as LTD for working as a contractor and in periods I had my partner also employed for my own company. About after pandemic period and furlough scheme LTD became inactive and I have removed all employees from payroll and just paid to accountant to have my accounts up to date. After preparing yearly accounts I ended up working with accountant and refused to pay the quote for company liquidation so it has not been done up to now and I would like to do it myself.
So far I have done following:
- De-registered from VAT.
- 0 employees on payroll.
- Not used my business bank account (except for bank fees going out).
- I have not paid several salaries to my partner and myself but paid all the taxes to HMRC on time - will this be an issue? Factually we have joint budget and I can do that but in that case "debt to director" will go up as I will have to pay my own money to LTD bank account and then literally pay myself.
- The debt I have to myself - do I need to indicate this anywhere and does it mean that company "cannot pay its debts" and it will affect me as an individual in future?
- Company has not been trading for over 3 months - does it mean that I do not need submit final CT600 and annual accounts?
Kind regards
Alex
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