some directions on where I can get advice on liquidating a small company. Owner has gaot a job and no longer neeeds company. Has submitted 652a.
No creditors.
A few assets with NBV of approx, £2000 represented by retained profit.
Thanks
John Pevy
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Revenue Extra Statutory Concession C16
Usually with private companies we approach the Revenue to tell them that the company is to be wound up and that the shareholders wish to have any distributions treated as capital (return on investment) rather than as income. Under ESC C16 the Revenue require various assurances which should not present any problems. Having approached the Revenue in this way they should not object to the 652A (they always used to object, but these days some applications seem to get passed them). Having done all of the above make sure that everyone is paid and that the bank account is emptied and closed before the company is struck off, otherwise it technically becomes the property of the crown!