Client is closing down a UK company and will not appoint an liquidator
Only creditor is a loan from a family member who is based in China which will not be paid and the family member has accepted that the none of the loan will be paid off
What are the formalities required to write off the loan.
Thanks
Replies (2)
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If the loan is FROM the family member (ie a creditor in the accounts) then should be fine. Technically I guess they should be sent a copy of the DS01 form like any other creditor.
I'm guessing there aren't any assets, so the company is insolvent?