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Going back to sole trader: closing down a limited company-Venture Care

Closing down a limited company in the easiest way. We can help for the strike off limited company easily. We also help setting up a llp quickly and easily.<br><br><br><br><br>

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Going back to sole trader: closing down a limited company-Venture Care

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  1. Goingbackto soletrader: closingdowna limitedcompany

  2. It’sanall-too-commonstory.Timesweregood,youhadnewclientscomingoutofyourears,moreworkthanyoucouldhandleandyourbankaccountwasoverflowing.Youdidthesensiblethingandformedalimitedcompanytomakethemostofyourearnings–cleveryou.It’sanall-too-commonstory.Timesweregood,youhadnewclientscomingoutofyourears,moreworkthanyoucouldhandleandyourbankaccountwasoverflowing.Youdidthesensiblethingandformedalimitedcompanytomakethemostofyourearnings–cleveryou. Butthen;disaster.Maybeyourbiggestclientwentbelly-up,orastringofsexual misadventureswithacoworker’sspousefinallycaughtupwithyou.Yourincome plummets,andsuddenlytheextrapaperworkandCompaniesHousefilingsjustdon’tseem worthit–youpineforthedaysofsoletradershipandfinally,aftermuchdeliberation,youdecidetoDissolvingalimitedcompany Howdoyoudothat,exactly? Geteverythingsquaredaway Althoughyou’llgoonconductingyourbusinessasasoletraderyourlimitedcompany,asalegalentity,musthaveallitslooseendstidiedaway.Thismeanssettlinganyoutstandingbills,andcollectinganyowedinvoices,andmakingsureyoumakeprovisionsforanyrunningcoststhatmaybeincurredbetweennowandwhenyourcompanyislegally wound-up(forexample,ifyou’repayinganaccountanttofinalizeyourlastbatchofreturnsoremployingsomecreditcontrolservicestoroundupthoselatepayers). Thegoodnewsisthatthesecanbetreatedaslegitimatebusinessexpenses,andsocanoffsetyourfinaltaxbill. Whatelse? CompaniesHouse YouwillneedtofileformDS01withCompaniesHouseinorderto‘strikeofflimited company/dissolvingalimitedcompany’yourcompany.Thiscanonlybedoneafterthe companyhasnotbeentradingfor3months. VAT IfyouareVATRegistered,youwillneedtoinformHMRCofyourintentiontode-registerbycompletingaVAT7form.Oncethisformisreceived,HMRCwillcontactyouwithyourde-registrationdate.YoumustalsocompleteafinalVATReturnthattakesintoaccountthingssuchasleftoverstockoranyequipmentyourbusinessowns. CorporationTax YoumustinformHMRCthatyourcompanyisnolongertradingsotheydonotissuefurtherremindersforCorporationTax.

  3. PAYEScheme IfyouoperateaPAYESchemeHMRCwillalsoneedtobetoldthatitisnolongerinoperation,anditwillneedtobecloseddown. CapitalGains Ifyou’reoperatingalimitedcompanyasafreelancerthere’sagoodprobabilityyourequipment(laptopetc.)isownedbyyourcompanyfortaxreasons–ifyoutakepossessionofcompanyequipmentpersonallywhenyourcompanyiswouldupyoumayneedtopayCapitalGainstaxonthoseitems. Butwait… Dissolvingalimitedcompanyis,asyoucanseefromtheabove,abitofahassle.There areotherconsiderationstoo–ifyoude-registerfromtheFlatRateVATscheme,youcannotre-registerforayear.Ifthegoodtimesreturnandyoudecidetore-incorporatethiscould meanyou’reoutofpocket. Ifyouthinkyoumightwanttotradethroughyourlimitedcompanyagainsoon,youalwayshavetheoptionofputtingit“onhold”.InsteadofinformingHMRCthatyouintendtoclosethelimitedcompanydownyoucanmakethecompany“dormant”.Youwillstillhavetofilecertaintaxreturns,buttheywillbe“nilreturns”,meaningyoujustreportaloadofzeroestoHMRCtoshowthemyou’renottrading. Youcanworkasasoletraderoutsideyourlimitedcompanyinthemeantime,andreturntoworkingthroughyourlimitedcompanywhenitmakesfinancialsense(althoughbearinmindthiswillmakeyourself-assessmentrathermorecomplicated). windingupofllpintheeasiestway.VentureCarecanhelpyouguidethroughtheprocedurefortheclosureofyourLLPquicklyandeasily.

  4. ContactUs: HeadOffice(India) Sr.No-29,Ajikyatara,kalaniketan,VentureCare Bank,3031AVRotterdam,(NL)Pune,Maharashtra411043(IN) Phone:(020)-65363633 VentureCareBranchOffice(Netherlands) Dhankawadi,NearRajshriShahuJonkerFransstraat46, Phone:+31614575275

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