Closing down a limited company
My client has asked me to close down their limited company, this is not something that I have been involved with before.
Their accounts period ended at the end of Jan-11 and they ceased trading during this period. However, they still continue to have some business insurance payments and loan repayments going through their bank account. In addition to this I have found that, due to errors in calculations, they owe a small amount of VAT.
I am unsure for what period I prepare these accounts. Do I prepare the accounts to Jan-11, writing off assets to zero as they can't continue to be depreciated. Would I then need to submit a new set of accounts for the period to date, where they will empty their bank account, repay their loan/VAT/my fees?
Also, can the company be closed down if the directors loan account is a debit balance?
Many thanks for any advice!
- P11d & Medical Ins 171 2
- Should design costs be capitalised? 154 4
- Sale of assets - availability of AIA to the purchaser 146 2
- Submitting tax return 70 1
- Ex Client from over 3 years ago 181 3
- Keep receiving RTI late submission notice 247 8
- Director's tax return 323 7
- Reporting no P11d due when PAYE scheme closed by HMRC 5Apr2013 88 1
- Sage Payroll 308 11
- Payroo Employer allowance query 201 6
- Small employers paying people when sick thanks alot! 3,060 33
- vat return 257 3
- Flat rate vat 142 1
- Value pricing 730 26
- RTI Annual Scheme Query 161 4
- PAYE coding notice - deliberate misstatement 231 4
- Private residence relief with entrepreneur relief mix 292 4
- Reregister for VAT 156 2
- Producing graphical KPI's etc 204 6
- Weely paid employees 256 3
- Residential Property Purchase Above £750K 804
- Using Sage with Sofa Categories 554
- Does anyone have an unwanted ICAEW wooden plaque? 424
- Goods shipped inter EU and VAT Reporting 301
- Free Tax Legislation? 270
- Director Loan account operation 252
- transferring simply accounting 2010 from xp to windows 7 250
- Non-Resident Director - UK Tax Position? 244
- Sage 200 and Access Dimensions reviews 231
- Paye procedures for CVA 161