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!
- General tax book with planning 148 2
- Limited Company - Personal Bank Account 3,205 69
- 2013/14 failure to submit end of year submission 284 11
- Gift of property & improvements 118 2
- Error in past Corporate tax return 342 5
- VAT Invoice 137 4
- Company overdue but wants to be struck off 804 32
- IHT and Swiss Property 129 1
- Sale of house with planning permission - tax free? 218 3
- Flat rate Vat Scheme & Vat on wholesale production of Cakes and other deserts 185 7
- Vat code for journal entries of director's expenses 152 2
- Claiming VAT and missing receipts 452 10
- HMRC overreaching its powers -again against a small surveying firm? 375 8
- Help with tax codes on Sage 256 1
- Letting relief on property transferred to a spouse 186 6
- VAT code for invoice from not VAT registered company 258 4
- Accounting for a finance lease 165 4
- SA302's anyone?? 538 16
- A change from the old Q v NQ debate 1,644 41
- Renting for military reasons 195 2
- Skandia using wrong address 1,620
- Nil Rate Band Trust - index linked debt by way of charge over property 901
- International interest certificate 510
- NOVA 368
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 297
- Management expenses for investment company 263
- Bonus Bonds 261
- Entertainer withholding tax in Australia 173
- tax on apprenticeship income 173
- P11D benefit received by widow 149