Did You Know?

Not a very interesting post I'm afraid and probably only of slight interest to anyone who has a Limited Company.

I contacted a very helpful charity today who primarily deal with business debt, but will also help with personal debt that is often associated with your business debts. Let me make it clear that I don't intend to use this blog to  promote organisations or charities or help lines etc. However, I will relate my experiences with such organisations whether good bad or indifferent.

So back to the point. Today I contacted this charity Business Debtline specifically to ask them about the process of closing down a Limited Company.

I had assumed, wrongly as it turned out, that I would simply write to Companies House to inform them I was going to cease trading on a certain date and that would suffice. Now assuming you don't have any company related debts, you can sort of use this method, though there is a specific form you need to use from Companies House. Even then, you cannot apply to have your company struck off the register until three months after you cease trading and then it will take another three months before your company will be struck off.

Should your company have any business debts, you also have to inform your creditors that you have applied to be struck off the register and they then have three months to object to your removal or not as the case may be.

As I said, not the most interesting post I'm likely to write, but it wouldn't be 'warts and all' if I left it out.