Ltd Company's ceased trading

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
A bookkeeping client of mine ceased trading a few months ago but is still in the process of paying his creditors, and trying to get the last few debtors to pay up.
I've been speaking to HMRC about the VAT situation, so know what to do there, but does anyone know whether I need to notify Companies House that trading has ceased, and if so how do I go about doing that? I've had a look on their website but couldn't find what I was looking for.
I think that their annual return is due shortly, can I just notify Companies House on that do you know?
Any help much appreciated.
Thanks
Jodie

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Ltd Company's ceased trading

    Hi Jodie,

    The company can apply for voluntary striking off. More details can be found here:

    http://www.companieshouse.gov.uk/about/gbhtml/gbw2.shtml#one

    Kind regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Ltd Company's ceased trading

    steve,
    yet again, thanks for your prompt and useful reply.
    much appreciated
    :D
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Ltd Company's ceased trading

    So am I right in thinking that if the bank account is still open and it's going to be a while before all the creditors are paid off that it's better to wait until everything's completed before striking it off the register? In which case there'll be nothing to do now?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Ltd Company's ceased trading

    That's what I would do because trading activity is still taking place. I would apply for striking off when everybody has paid and all creditors are paid up. If you strike the company off now, your client will not have limited liability status as they will effectively be a sole trader.

    Kind regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Ltd Company's ceased trading

    Excellent. Thanks :)

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