Hello,
I have a prospect client, he came to me with the following problem:
He set up a limited company a couple of months ago, registered for VAT and PAYE, informed HMRC that his company is active, but he hasn't opened a business bank account and all the money for his work (he is a truck driver) were put into his personal bank (and most of it is already gone). Last week he took another job (as an employee) and now he wants to close his Ltd.
I was thinking of the least painful way of dealing with it and contacted my friend accountant (with over 20 years of experience) . His advice was to struck off Ltd, deregister from VAT and PAYE and just ask HMRC to issue a Tax Return and declare his income as self employed.
Have you had a similar case? How did sort it out?
Many thanks
Alex
Replies (5)
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HMRC
I would send a letter to HMRC and ask them if it is acceptable.
If you don't he may have problems in the future
Dormant company?
In reality, the company may never have traded. Who did the customers think they were dealing with - you client or his company?
vat number on invoices issued?
If vat invoices issued they surely are in name of company as it was the only entity registered?