So here goes, my accountants sold to an online accountants.. it was really difficult to get in touch with anyone and the returns never got filed last year, I owed some vat which I was paying off and got a few penalties along the way. I received a letter from Companies House ststing they were gojng to strike the Co off, then when i went on the CH website it was objected too.. I presumed by HMRC so thought nothing about it. I spoke to the accountants who were most unhelpful and for the last 3 months refuse to answer or return my calls. I had been making payments to HMRC for vat and then a few weeks ago I got a letter saying the ltd Co was going to be struck off ... 4 days later it was dissolved. Do I get in touch with hmrc to still pay the vat off as I still owe about 13k? will i be barred from starting another ltd Co? Am I in any trouble as no one has informed me yet? I had no creditors and was struggling a bit hence the vat not being paid.. I've read lots of posts on similar but would appreciate some advice. Thsnks Dave.
Replies (13)
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The £13k debt died with the company.
There is nothing stopping you from starting another company as long as you have not been banned from doing so.
You would have known if you had been banned.
Forget about the company. Start another and move on.
Its your company. Your responsibility.
If your accountants are crap, then you fire them and hire someone competent, however if they have not been returning your calls for 3 months it would suggest they have fired you?
You can "restore" a company which means put it back on the register as if nothing happened.
I would suggest you engage a competent firm to look at your situation and advice on the best course of action.
What assets did old co own when it was struck off, do you need to get them back from Liz?
The one complication you could face is when applying for a new VAT number.
HMRC might ask for a security deposit as your dissolved company owed them money
Given what you say, before rushing into a newco you should have a chat with an accountant, it may well be that whilst using a company was previously the right decision that is no longer the case. There have been a lot of changes in the tax regime making companies less attractive, and they do tend to come with higher professional fees to operate than say sole traders.
If new business is similar to old it does not sound like much in the way of creditors that might have one chasing limited liability.
In addition, unless old company was loss making, it appears you somewhat pillaged its assets, drawing funds that were not yours (you would not have no assets and a vat liability if that was not the case) so perhaps you and companies are not a good mix.
So, paradoxically, going to a cheap accountant with poor communication and dodgy software has actually saved the OP a good deal of tax.
Be aware OP that you were lucky HMRC didn't block the strike-off; if and when they ever wake up to the fact that your company owes VAT or corporation tax then they, HMRC, may just apply for reinstatement of the company. You should resist the temptation to discuss the matter, and get on with a new £99 company (or self-employment if you think that better). I should let the dust settle before applying for a new VAT registration if I were you - I'm not sure that HMRC will be able to extract a security deposit from you if you leave VAT registration until your new business hits compulsory registration levels of turnover - blood from a stone?