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!
- Copy Wanted 602 1
- Might income tax be payable on these gifts? 42 2
- How Long does it take to get an Agent ID 53 2
- Private Residence Relief after gift 63 3
- Software 280 7
- Companies House late filing penalties 2,375 81
- Pounds Shillings and Pence 443 16
- Buy to let property : Is parking bay tax deductible ? 238 5
- When is golf coaching a vatable supply? 152 2
- Comany ceasing to trade 129 2
- French resident, split year & UK close company dividends 109 1
- Closing a limited company 165 5
- Rental Income for Child Benefit Charge 122 2
- Obtaining old payslips & correcting historic tax overpayment 126 3
- Window Comb Binder Cover 351 6
- Capital Gains on Residential Property 420 23
- Broadband costs 208 2
- Allocation of internal division of work - manger level 305 11
- Use of home deduction 454 14
- Non resident income. 217 11
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 851
- Underpaid VAT assessment and relation to SATR 535
- Did you realise Google will not patch android exploit ... 506
- Latest phishing scam 393
- Entrepreneurs' relief 372
- Supply teachers and Ltd Companies 325
- Cashback for opening business bank acct = trading income? 309
- Corporate LLP with 30 June Year end - How to record on SA800? 297
- Auto Enrolment Questions Answered 207
- Penalties- On Tax Returns (New Regime) 183