Closing down a company and how to deal with a loan

Closing down a company and how to deal with a loan

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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

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By Maslins
08th Dec 2014 15:31

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?

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By Jim100
08th Dec 2014 16:38

thanks

yes the company does not have any assets.

 

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