Limited company - should I close it?

Rufty1

Hello

I set myself up as a limited company so that I could do work for a multinational. It was supposed to be a years contract but they ended it after 4 months. That was 6 months ago and I have not worked since.
Should I now close the company. Apart from the accountants fees, I now been contacted by companies house asking about the validity of the company as it hasn't traded for a while.
Should I close it? I might want to do work as a ltd Co again in future so I'm not sure what's best. Thanks for the advice.

Pennywise

Considering it's only £15 to shut it down and about the same to open a new one if you ever need one again, just shut it down. Not worth paying more in Co House and accountancy fees to keep it open when it's not needed. Just don't forget to get final accounts and corporation tax return prepared and submitted otherwise your striking off application will probably be objected to.

yasmup

Rufty1 wrote: »

Hello

I set myself up as a limited company so that I could do work for a multinational. It was supposed to be a years contract but they ended it after 4 months. That was 6 months ago and I have not worked since.
Should I now close the company. Apart from the accountants fees, I now been contacted by companies house asking about the validity of the company as it hasn't traded for a while.
Should I close it? I might want to do work as a ltd Co again in future so I'm not sure what's best. Thanks for the advice.

Really?
After just 10 moinths?

I've set up numerous limited companies over the years, both for myself & others.

In the normal course of events, CH only contact you again 12 months after set up to request another £13 and an annual return/confirmation statement.

Then they expect accounts delivered 21 months after incorporation.

So until you pay the £13 and file the return/statement, CH normally don't even have a clue what you are doing.
And not until you file accounts can they see what is happening financially with the company.

There are dormant companies that have been dormant for decades, and CH never care as long as they get their fee, return & accounts.

How does CH know your limited company has not traded for only the last 6 months??? :huh:

Slinky

yasmup wrote: »

.

How does CH know your limited company has not traded for only the last 6 months??? :huh:

Exactly what I was thinking.