Exit Strategy

missile

Hi,


My wife and I are joint shareholders in a Limited Company. The company has ceased trading with zero income for current year + £41,000 retained profit.


Before discussing with our accountant, we would appreciate advice regarding closing the company. I have read https://www.gov.uk/strike-off-your-company-from-companies-register/how-to-wind-up-your-company.


I understand the cash should be returned to the shareholders either as:
a)dividend (which will be taxable on the shareholders but who will get credit for the corporation tax already paid so unless they are higher rate taxpayers they probably won’t have to pay more tax)
"who will get credit for the corporation tax already paid" How does that work?


b) return of capital (distribution) which would attract capital gains tax. I note that one can apply to HMRC to have such payments treated under Extra Statutory Concession C16. This treats all such final payments as capital gains instead of dividends and may result in less tax being due.
Would this be beneficial to us? We shall be basic rate tax payers with have no other capital gains liability.


What do we do with company owner assets e.g. computers and office equipment?