I am winding up our company and am wondering about the bookkeeping entries required.
The balance sheet is broadly:
Goodwill 120,000
Equipment 1,000
Debtors all good 20,000
Bank Loan 25,000
Trade creditors 15,000
Tax due 10,000
Directors Loan account 90,000
Share capital 100
Profit and Loss account 900
What is the tax position likely to be.
Your help much appreciated
Replies (3)
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Are you planning to put cash into the company to enable it to pay its creditors? If not stop now and consult an insolvency practitioner without further delay.
Goodwill question?
The question has got SFA to do with goodwill. Go and see somebody that knows what they are talking about.
And it's not about book-keeping entries either. It's about winding up an insolvent company.