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!
- Do I need a 13digit tax ref for a ct600 225 5
- Private portion of costs and expenses in Accounts 363 17
- 40% rule for travel expenses 155 1
- How to pursue fraudulent trading 313 5
- Now Scotland has voted "No", when does England get to vote? 1,122 56
- Cash injection by shareholder 130 3
- Treatment of goodwill in Consolidation 271 8
- PRR 258 12
- Is it more beneficial to be a Ltd company? 173 3
- Any Scottish members out there? 11,482 424
- corp tax software 354 7
- Pension Contributions Relief 445 14
- Is there an expert in Excel out there? 467 7
- Which tax box 191 2
- How to change reconciliation status of bank account in Sage 50 135 3
- how to start a career in accounting at 34? 250 3
- Underpaid Tax Options on SE 214 6
- References for clients 215 2
- Sole Trader - Working from home claims 159 2
- incorrect PAYE statements 137 2
- Raiders of the Lost Tax File 1,299
- Chartered Accountant in County Down N.Ireland 464
- National Insurance 361
- Non Resident 280
- Franchise income and costs 258
- Hands on experience of Digita 210
- Best way to take money from a business if you have unlimited EIS allowances? 170
- Employer's Helpline 160
- employment capital allowances 151
- CIS paid under reg 9 144