A bit of a sad day today as my first client ceases to be one. He's been with me 9 years (gosh is that how long I've been going?)
I've never done a cessation before and just a couple of questions. There is £12k sat in the bank account as at 28th February 2018. I presume I leave that as is? No trading done after that date. I've ticked the box on the CT600 that says cessation. Do I need to inform HMRC as well?
After that he can go straight for voluntary strike off?
__________________
John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
I didn't know there was a box on the CT600 to tick for cessation, always thought that you still needed to write to HMRC and inform them that the company had ceased to trade.
__________________
Doug
These are only my opinions of how I see things and therefore should not be taken as advice
Agree its sad when the good ones go! 9 years - bloody hell man, how scary is that!!!
The only cessation of a Limited Ive been involved with needed to go through the voluntary liquidation process (MVL) so that ER could be claimed (massively o/d DLA, clearance required etc)
So - your cessation date is 28Feb, to which you will produce Accounts? No need to send those to Co House (just in case you needed that info).
How are you clearing down the balance - will some of that be CT to pay? The rest divi? Or is there insufficient to clear it by way of a divi? Really what Im getting to is - are you going for an ER claim? (Be careful - he cannot then set up in business again for, if I recall, 2 years or the tax treatment may change).
If you are going straight for strike off - I would inform HMRC separately as well. Just saves on any issues that might arise.
Get the cash out quickly as Banks are often pretty hot about putting a block on an account of a Limited that has a strike off form lodged (well they used to be!)
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
