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!
- Is there no lower level to the work a lawyer would take on. 991 30
- How to revise RTI for Moneysoft 234 4
- Director Salaries - Sole Director Limited Company who is also employed elsewhere 59 1
- Voluntary Disclosure 311 6
- valuation of vehicles 443 18
- Ethical Issues / Conflict of Interest 349 3
- Mortgage Interest - Tax Deductible 434 4
- BTC is slow 281 3
- Director registration for SA question 496 17
- Issues with freelancer taking zero salary from limited company 416 6
- Tax on LLP members drawings not covered by future profits 509 22
- Business only use of company car 714 26
- Dormant company late with their CH submission 519 14
- Penalties for late PAYE scheme 340 4
- New Company reviews please 573 13
- How do you pay Inheritance Tax when HMRC haven't demanded it 332 4
- VAT with Russia 259 2
- VAT FRS percentage for sales person? 238 4
- Money Laundering Manual 316 11
- cgt quoted shares losses 261 2
- RTI Rollback to delete incorrect data 309
- Vouchedfor.co.uk 254
- Any thoughts on Capium? 247
- Motor Traders Assistant Bookkeeping Programme queries 246
- Tracesmart/Lexis Nexis AML software? Any opinions? 223
- auto enrolment 196
- Sage Compatible P60's Self Seal 179
- Continuity of practice-ACCA 162
- How to account for investment in JV? 160
- Recommended International mobile phone coverage and costs? 150