You can close down a Limited Company if the following circumstances applies:

• the company has not traded in the last 3 months
• has not changed names in the last 3 months
• is not threatened with liquidation
• has no agreement with any creditors.

To close down the business properly you have certain responsibilities:

• you must inform anyone who could be affected, such as the Shareholders, creditors, employees, and any Directors who didn’t sign the application form
• you have to file the last tax returns and pay your taxes in full
• you have to close down the business bank account
• you have to keep all business records for 7 years after the company struck off

The whole process takes about 2-3 months.

If you need help with closing your Limited Company, please contact us for more details.