We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

HMRC rebate after filing DS01

Options
Hello MSE forumites, 

I’m hoping your good selves might be able to help me as I can’t seem to find a clear answer online…

I basically have a limited company from years ago when I was a consultant. Thanks to the IR35 rules I have been unable to use this company as a vehicle to pay myself since 2018 & the business has been dormant. Now I have gone fully perm I have decided to wind it up. 

Everything was paid up, apart from business loans from myself as there was too little in the account. 

After managing to wrestle access back to Companies House from my accountants (who had been acquired by a larger, ineffectual firm) I managed to submit the DS01 form, which has been accepted & pending no objections, will close next month. 

I have however, received a random sum of almost £1000 back from HMRC to my business account & a letter today confirming repayment for 2018-2019 overpayment. 

My question is can I touch this money? I’ve worked out I technically owe myself about £500 in repayment for business loans, but am I due the full amount because it was an initial overpayment? 

Or can I not touch any of the funds now I have submitted the DS01, as this could be seen as trading? It seems unfair the amount would go to the crown when the business account is shut. 

Any help/point in the right direction much appreciated. Would rather not have to seek formal legal advice…

Comments

  • Savvy_Sue
    Savvy_Sue Posts: 47,328 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If you're the only director / shareholder / person with any interest in the company, I can think of no good reason why this money isn't yours, BUT I must stress this is not my area of expertise (if I even have one!)

    What I have picked up from other threads on this board is that you really really don't want the company closed BEFORE all such matters are dealt with, because if HMRC or anyone else pays you AFTER the company's been wound up, it's both a huge and expensive hassle to get your hands on the money. 
    Signature removed for peace of mind
  • MDMD
    MDMD Posts: 1,556 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    edited 4 August 2023 at 11:44PM
    You can withdraw your strike off request, then extract the money (via an appropriate method) then refile the DS01

    https://www.gov.uk/strike-off-your-company-from-companies-register/withdraw-your-application
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.