How to close a Limited Company
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Closing a limited company involves several key steps:
- Choose the Closure Method: Options include Members’ Voluntary Liquidation (MVL), dissolution, Creditors’ Voluntary Liquidation (CVL), compulsory liquidation, or making the company dormant.
- Notify HMRC: Inform HMRC of the cessation date and finalise tax matters.
- De-register VAT and Close Schemes: De-register for VAT and close any employee or CIS schemes.
- Final Accounts: Prepare and submit final accounts. Close down all Company bank accounts and obtain copies of the bank statements for the full financial year.
- Apply for Strike-off: Complete form DS01 and await publication in the Gazette.
If you would like help closing a Company down or finding out more about the closure methods, please do get in touch.
We have a useful blog on structuring your business to avoid opening a Company unnecessarily, you can read it here.