Cheque I can't cash

M3_Sussex

I closed down my limited company last year. However, in the meantime I was sent a cheque made out to this company which I duly deposited in the company bank account which I had not closed. The bank returned this cheque to me and I then found out that Companies House had closed down the bank account (standard procedure).

Is there any way of cashing this cheque or is it just bin fodder? Incidentally, the bank have not returned the actual cheque but one drawn on their own account. I can't remember who the original cheque was from so can't even go back to them although I think it was a goverment body!

It's not a massive amount. It just seems a shame to chuck it in the bin!!

missile

You can't be the first person this has happened to? Suggest you ask your bank.

M3_Sussex

missile wrote: »

You can't be the first person this has happened to? Suggest you ask your bank.

I asked the lad who informed me companies house had closed the account. He didn't think it was possible but he sounded about 16 so not sure he would know for sure, hence the question here.

greyteam1959

You should be able to get a copy of the cheque to find out who it was from.
Then ask them for another one

M3_Sussex

No, it didn't go into receivership!

I closed it using the capital gains 'loop hole' so I could get the money out and pay minimal tax.

My accountant advised me they would close the account.

greyteam1959

Sorry you replied before I changed the post!!
Apologies

missile

Obviously you cannot operate a business account for a company which has been disolved. However, I can't understand why closing the account would save CGT?
Seems like poor advice - you ought to have kept the business account running after the company ceased trading i.e. until all bills are paid and income is received and VAT is paid. Only then can you complete the final accounts.

I guess this must have been your limited company? You can take money out, or put money into "your" business account any time you like.

missile

PS: Even if you can remember who the cheque was from, I doubt that will help. Do you think they will be able to pay you a personal cheque?

M3_Sussex

missile wrote: »

Obviously you cannot operate a business account for a company which has been disolved. However, I can't understand why closing the account would save CGT?
Seems like poor advice - you ought to have kept the business account running after the company ceased trading i.e. until all bills are paid and income is received and VAT is paid. Only then can you complete the final accounts.

I guess this must have been your limited company? You can take money out, or put money into "your" business account any time you like.

Closing the account does not save CGT. Companies House close it as a matter of course when you close down a limited company. I had no say in the timing although it was a year after the company officially closed. The advice I got was superb thanks very much!!!

missile

Glad to help !!!

jonesMUFCforever

Companies House also DO NOT close bank accounts.
Only customers or the banks can do this.