Company disolution

paulr

I have a private limited company -- one director who wishes to disincorporate
and trade as a sole trader.I intend to write to HMRC and ask to apply ESC C16
under an informal winding up prior to year end and the balance sheet to be treated as a capital
diposal under Capital Gains legislation.
This is my first dealing of this particular event and would ask any fellow members for a step by step approach so as not to fall into a possible trap;
paulr.
thankyou if you can advise.

A-Vic

couple of forms needed

http://www.companieshouse.gov.uk/forms/generalForms/652aChecklist.pdf


and

http://www.companieshouse.gov.uk/forms/generalForms/652acs.pdf

and

http://www.companieshouse.gov.uk/forms/generalForms/652a.pdf

am not a member in practise but do a lot of forms ect for work anything i can help with please let me know

paulr

thanks,
Paul.

A-Vic

paulr wrote: »

thanks,
Paul.

No Probs did you find what you needed?

Peter W

If you will be applying for ESC C16, you should also have a look here:

http://www.hmrc.gov.uk/manuals/ctmanual/CTM36200.htm

mikecushing

Step Plan to Dissolution

This is the Step Plan that I use hope it helps:-

S652 & 2a is now S1003 CA 2006

Engage letter to cover dissolution

Prepare & submit P35

Prepare & submit P11D
Pay Class 1As

Change year-end?
Change registered office (form 287)?

Prepare cessation accounts?

Liaise with client re potential Divs/Capital/Salary planning
Send copies of accounts to client

Submit to Co House

Close PAYE scheme

CG17963a re non-business assets after cessation
Email/Post ESC C16 and Interest Parties letter to client

Signed accs to client

Pay CT

File CT600

Write to HMRC re: clearance to distribute assets as capital - ESC C16
Account for VAT & De register ref: VAT 7
Final VAT return & claim VAT on services VAT 427

Send letter to all interested parties re: striking off
e.g.. Bank, PAYE, CT, VAT + any other creditors
Bank-done PAYE CT VAT Pension Co

Director's meeting re transfer of company's assets
Shareholders' meeting to ratify

Apply for dissolution (form 652a) - £10 fee - Co's Ho

Copy form 652a to all interested parties - proof of posting
Creditors, employees, directors, shareholders, pension co.
Notification sent to Reg'd Office by Co's Ho.

Advertised in Gazette by Co's Ho.

Settle debts Accountants VAT etc, CT when due

Distribute assets, close bank etc

Company dissolved, any remaining assets belong to the crown
ie - share capital £2

(Reviewed rights of the Crown to company assets 2005 - Bona Vacantia.)


JUST GO FOR 652 STRIKE OFF IF CREDITORS WOULD NOT STOP IT?

The Treasury Solicitor, Bona Vacantia Division, has issued a new form BVC17 (March 2007 Edition Version 2) re use of ESC16 where there is share capital/undistributable reserves of £4k + and falling foul of the Bona Vacantia rules - may be worth a look.