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Help with ending ltd company
heidiprincess13
Posts: 134 Forumite
Hi all,
My husband has stopped trading as a limited company as of January this year, we are just unsure of a few things and was hoping someone on here could advise us on the following,
We don't owe any tax (company and sub contractors) however, we owe the account for 2 years fees which is £3200.00!!!!!!
A £4000.00 business bank loan for a van which is now sold due to the business having no money.
We were meant to be drawing £700.00 in wages but for 10 out of 12 months theses were not drawn.
We have one builder who has not been paying our tax (£5000.00), my husband is now back working under self employment and is still working for this builder but we are invoicing without the tax being deducted.
HELP..... What do we do with the limited company debts? And what are our best options?????????
My husband has stopped trading as a limited company as of January this year, we are just unsure of a few things and was hoping someone on here could advise us on the following,
We don't owe any tax (company and sub contractors) however, we owe the account for 2 years fees which is £3200.00!!!!!!
A £4000.00 business bank loan for a van which is now sold due to the business having no money.
We were meant to be drawing £700.00 in wages but for 10 out of 12 months theses were not drawn.
We have one builder who has not been paying our tax (£5000.00), my husband is now back working under self employment and is still working for this builder but we are invoicing without the tax being deducted.
HELP..... What do we do with the limited company debts? And what are our best options?????????
0
Comments
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Companies House appears a good place to start:
http://www.companieshouse.gov.uk/infoAndGuide/windingUpCompany.shtml0 -
You liquidate the LTD company and that is the end of all the debts except any Tax owed.Be happy...;)0
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spacey2012 wrote: »You liquidate the LTD company and that is the end of all the debts except any Tax owed.
Won't they then chase after assets?0 -
heidiprincess13 wrote: »Won't they then chase after assets?
Unless you signed as guarantor for any of the debts then no. the debts are the companies and will die with it.0 -
spacey2012 wrote: »You liquidate the LTD company and that is the end of all the debts except any Tax owed.
It is not that easy - the creditors can block the winding up of the company.Unless you signed as guarantor for any of the debts then no. the debts are the companies and will die with it.
It is highly likely that the van finance will have required a guarantee.0 -
Is the cab the best place for me to get advice on the limited company?0
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