Process for closing a limited company

MTJR

Hi,

I have a limited company client(one shareholder) who is now wanting to close their company.

The company doesn’t have any debts.
Has a small amount of cash in the bank.
One fixed asset - a laptop (AIA was claimed).

Their year end is 31st August and will cease trading in December.

This is something I have never done before and would like to know the step by step process for applying for voluntary strike off, submitting the final accounts, best way to transfer assets etc.

Can anyone help me with this please?

Thanks

J_ACO

1 - Prepare accounts for August and submit a CT600 to HMRC - Pay any outstanding tax
2 - Prepare accounts for 01/09 to the agreed close down date, submit final CT600 to HMRC and pay any tax due
3 - Cancel any recurring payments to come out of the bank account and remove any funds from the business (Really stress this point, if there is money in the account when the company closes, it's costly to get it back)
4 - Apply for strike off
5 - Wait for company to close
6 - Pay any tax due on dividends from any written off overdrawn DLA (if applicable)

With regards to the laptop, as long as you sort out the balancing charge for the company tax, I'd transfer it to the shareholder and at the disposal value and account for it in the DLA. Unless it's a supercomputer, I doubt the capital gains tax section below will apply

https://www.gov.uk/closing-a-limited-company (By the sounds of it, you want the solvent option at the top)
https://www.gov.uk/strike-off-your-company-from-companies-register
https://www.gov.uk/strike-off-your-company-from-companies-register/close-down-your-company