UK Closing a newly formed Limited Company

[therecruiter]

I started my own Limited Company recruitment agency 6 weeks ago but despite a lot of out-going monies my company has failed to receive any money.

If I was to close the Limited Company would I still need to present a set of accounts?

Would I be able to then re-open as a sole trader keeping the same name but dropping the Limited from the title?

The option of being a sole trader would offer me greater flexibility in being able to obtain external work on a self-employed basis or even returning to an employed position. I feel that I took ill advice on opening as a Limited Company which I now regret.

 

[Samir]

You don't have to close your LLC to get a job or even work as a sole-proprietor.

The advantage of using your LLC is to shield you from liability. You can always use a 'dba' (doing business as) no matter what your LLC name is.

You might even be able to work as your LLC and have the income go to your LLC vs personally to offset your expenses. This would probably work best when filing a 1065 vs a Schedule C.