What tax do I have to pay when closing my company?


How can I close my company in the most tax-efficient way? If you are contemplating the closure of your limited company for any reason, it is natural to seek the most tax-efficient method. Fortunately, there are established procedures and tax reliefs to assist you in minimising your tax liability.    How can I close my […]

Should I close my company or make it dormant?


Which is the best option for my limited company? You need not close your company if it’s no longer trading. Opting to make it dormant could be a more suitable choice. This allows you to swiftly revive the company in the future and safeguards your trading name from being used by others.   Closed or […]

How much does it cost to close a company in the UK?


What’s the most cost-effective closure method for my limited company? The expenses associated with closing a limited company in the UK can vary significantly based on your specific circumstances. Striking off a solvent company from the Companies House register incurs a £10 administrative fee, while liquidating an insolvent company can cost £4,000 or more.   […]

What should I do with my company if I am retiring?


What are my options and how will they affect my retirement? Retiring as an employee is a straightforward process. You submit your resignation, fulfill your notice period, and then embrace all that retirement has to offer. As a company director, it demands a bit more consideration. You must contemplate what you will do with the […]

When will Companies House not allow you to close your limited company?


Why might your strike-off application be rejected? Requesting the closure of a limited company through Companies House is the simplest method to conclude your business, but caution is essential. While it is an appealing option, specific criteria must be met before you can remove your business from the Companies House register. Incorrectly closing down a […]

Closing a company with debts and no assets


Liquidate a company with liabilities and assets In the UK, stringent regulations surround the closure of limited companies, with a crucial consideration being the company’s indebtedness. Solvent companies capable of fully repaying their debts have the option to close through dissolution or a formal process known as Members’ Voluntary Liquidation (MVL). Directors must exercise caution […]

Advice on closing a company with debts


Closing a company with debts You have the option to shut down a company with unpaid debts by opting for an insolvency procedure called a Creditors’ Voluntary Liquidation (CVL). Through a CVL, the company will be concluded, and creditors will receive repayment to the best extent possible. Debts linked to the company will be cleared […]