Urgent Help. What do I do with 2 unused companies?

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I registered for 2 limited companies, they never did any business. I have bank accounts on both. Apprently, I'm late to filing accounts. I was due in spetember so nearly 3 months. I submitted one of the companies to be dormant, a day ago. Recieved an email but no letter. I do not need these companies, I wish to dissolve them. Hmrc have issued a letter for them to be struck off. But I might want to register a company in the future. 

So my questions are, how much fine will I have to pay? How do I avoid paying it? Do I still have to pay it, if I dissolve the companies? Should I just leave it and be struck off?

ps, I got no money.

Thank you

Replies (16)

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By David Ex
22nd Nov 2022 22:49

jakemessed wrote:

So my questions are, how much fine will I have to pay? How do I avoid paying it? Do I still have to pay it, if I dissolve the companies? Should I just leave it and be struck off?

ps, I got no money.

Wouldn’t worry what the fines are if you have no money. What’s the worst that can happen?

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Replying to David Ex:
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By jakemessed
22nd Nov 2022 23:48

They can charge 350 each so like 700 quid and I have to pay in installments. That's pretty bad.

But apparently if they shut if off, its bad for credit rating and I can't register for another company in the future.

But I won't be jailed or chased after right?

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Replying to jakemessed:
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By Leywood
23rd Nov 2022 06:46

jakemessed wrote:

But I won't be jailed

Just think if all the money you would save in power and food costs.

You really need to learn to stop running from your responsibilities.

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Replying to Leywood:
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By jakemessed
25th Nov 2022 00:25

what?? I didn't get that.

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By Refs1
22nd Nov 2022 23:04

Look at the DS01 form option.

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Replying to Refs1:
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By jakemessed
22nd Nov 2022 23:49

I did. But even that it says before dissolving you have to file all the overdue forms. and if I do that won't I have to pay the fine?

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By SXGuy
23rd Nov 2022 07:34

If you let them Strike you off. There's no company to pay the fines. So what's the issue?

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Replying to SXGuy:
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By jakemessed
23rd Nov 2022 08:43

so I won't be in any more trouble?
how about if I want to open another in future. could I?

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Replying to jakemessed:
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By Paul Crowley
23rd Nov 2022 10:43

If you cannot cope with a dormant company now, why would you want another?
Just be self employed with a lot less regulation

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Replying to Paul Crowley:
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By jakemessed
25th Nov 2022 00:25

I don't want to be anything anymore to be honest. But bring self employed doesn't fit my situation. How can I dissolve these without fine? or should i just leave them and let them strike it off?

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Replying to jakemessed:
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By SXGuy
23rd Nov 2022 12:11

Never heard of people who open companies ruin them for profits close down and start again? There's a fair few.

Nothing stopping you starting a new one. But I guess I should as a professional state that you should really sort the current mess out first before creating another one.

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Replying to SXGuy:
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By jakemessed
25th Nov 2022 00:24

No I certainly understand but what I'm just wondering, if I dissolve the companies, do I still have to pay fines?

Or how do I dissolve without without fine?

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By Truthsayer
23rd Nov 2022 10:58

'I submitted one of the companies to be dormant, a day ago.' If it has still got a bank account, and that account had any transactions at all during the year, then you were wrong to do that.

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Replying to Truthsayer:
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By jakemessed
25th Nov 2022 00:23

no that one didn't. No transaction. £0. But I'm just wondering, if I choose the companies, do I still have to pay fines?

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Replying to jakemessed:
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By Leywood
25th Nov 2022 07:00

Q has already been answered.

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Replying to Leywood:
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By Hugo Fair
25th Nov 2022 11:40

Specifically by SXGuy on 23rd Nov 2022 at 07:34 ... and since OP now says not interested in opening new companies, that's the end of the story.

OP: this is not a suitable forum for suddenly introducing new aspects to your story and then changing your mind about them ... facts are the lifeblood here, not "but what ifs".

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