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Closing a UK Limited Company Part 2: File A DS01 with Companies House

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UK Property Tax Accountants

UK Property Tax Accountants

Күн бұрын

Пікірлер: 53
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
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@zkk6723
@zkk6723 Жыл бұрын
We request online closing of company But not send any notice to HRMS
@roymichaeldeanable
@roymichaeldeanable Жыл бұрын
Source: Companies register activities 2020 to 2021, Companies House. During 2020 to 2021 there were 10,438 compulsory liquidations, a year on year decrease of 36.6%. In the same year, there were 14,910 members' voluntary liquidations, an increase of 29.7% compared with 2019 to 2020.24 Jun 2021
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
Interesting facts. Thank you for sharing
@roymichaeldeanable
@roymichaeldeanable Жыл бұрын
ow many limited companies are there? There were around 3.5 million sole proprietorships (59%) in the UK at the start of 2019, 414,000 partnerships (7%), and 2 million limited companies (34%). Out of the 2 million actively trading limited companies in the UK (2020), around 990,000 were employers, whereas 891,000 companies were not. Therefore, just over half of limited companies are employers and just under a half are one-man-band businesses. Unlike sole traders, it is much easier to pinpoint precise numbers of limited companies, as the relevant data is captured centrally at Companies House.
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
Again, interesting facts. Thank you 🙏
@farahsabz8468
@farahsabz8468 18 күн бұрын
Hi, i have a ltd. I stopped trading, deregistered from VAT. Got my corporation tax refund. Now do i strike the company off if i want to move the business to property investment?
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 17 күн бұрын
Please rewatch the video as the content is available there
@teamuae806
@teamuae806 6 ай бұрын
"Good morning, I'm interested in closing my limited company along with its registered brand. While I'm familiar with the process of closing a limited company, I'm uncertain about the implications for the brand. If I close the company, will the brand automatically be closed as well? If not, could you please advise me on the procedure for closing a registered brand in the UK?"
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 6 ай бұрын
A brand may be taken over by another limited company or by you as an individual
@tafadzwac2299
@tafadzwac2299 5 ай бұрын
So what happens when you want to close the company but still have money in the business account? (Small company with one director who is the sole shareholder) Is there a specific hmrc form you need to fill?
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 5 ай бұрын
Please do not close the company whilst you have money in the bank account. If you close the company before you clear the bank, it will go to the royal family
@TrangNguyen-wr8rm
@TrangNguyen-wr8rm 2 ай бұрын
I just opened a LTD company 2 months ago. I don't have a business bank account yet. The company is just a self-employed individual. Now that I close my company, will I have to pay any money? If I don't close the company, will I have to pay business tax? Thanks u
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 2 ай бұрын
A company is its own legal entity. Self-employed references your personal tax position. A limited company will pay corporation tax and self employment will result in income tax You will need to pay to close the company even if it has not traded.
@AnnabelTheGoldsmith
@AnnabelTheGoldsmith Жыл бұрын
That helped alot! Thanks!
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
My pleasure 🙏
@JM-tm4hb
@JM-tm4hb Жыл бұрын
I am UK citizen living in the UK but planning to move to Spain. What is my tax responsibility and best structure, with a limited company in the UK once I become a resident in Spain and want to continue working remotely with clients in the UK?
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
A great question but forgive me but it is not going to be answered on here in a few lines, sorry 😞
@samantha9313
@samantha9313 5 ай бұрын
What if i am only Director with no shareholders, no debts and have £100,000 in my business Bank account? Will HMRC hit me with taxes?
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 5 ай бұрын
No tax can be charged just because you have money in the bank account. A company must have shareholders
@jessicaroalf
@jessicaroalf 2 ай бұрын
Hiya, I have an Ltd business thats been open since September 2022, trading since April 2023, very little, only £1-2k in sales/ 1/3 of that in profit. I have just submitted my September - September accounts for the first time. Now can I close down my ltd business? Will this only cost me £10? My friend had one and didn't trade and said it cost her £150 to close it down. Also is there anything else I need to declare/do about my earnings or is this ok to close? I'd be so grateful for your advice, thanks.
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 2 ай бұрын
Given the number of questions that you have, may I suggest that you speak to your accountant or a local accountant to go through this process? There are many trip hazards along the way that could cost you a lot more than just £10.
@ElviraGuo
@ElviraGuo 5 ай бұрын
I have submitted the application of close the company, at the moment we don't have any creditors like suppliers, former employees, landlords or tenants, guarantors, HMRC and Department of work pension and any employee as well, so should I inform all the them still? i have written a letter to send HMRC and email to shareholders, anyone I should inform? Thanks a lot!
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 5 ай бұрын
You do not need to do any more than complete the DS01 form. You have done more than enough with your communication 👍
@gadgetsreview8293
@gadgetsreview8293 Жыл бұрын
I have create aa Pvt LTD Company in 2020 i have never trad and never open bank account i have fill 1 time confirmation statement. Now i want to close down my company forever. What's the process please anyone tell me
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
Please search Google for a DS01 form to close down the company
@HarrisonIngle
@HarrisonIngle 5 ай бұрын
ive just filled for a strike off online but havent informed anyone yet. im the only director, but which address do i send the letter informing im closing the company to?, in terms of hmrc and the department of Work and Pensions. please and thanks
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 5 ай бұрын
Watch the video in full. All the details are contained within.
@user-ns6oz9xk7b
@user-ns6oz9xk7b 3 ай бұрын
how to close a company when I don't know the Authentication code and I can't provide it in any way!
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 3 ай бұрын
You complete a DS01 form, which does not require an authentication code 👍
@user-ns6oz9xk7b
@user-ns6oz9xk7b 3 ай бұрын
@@UK-Property-Tax-Accountants send me direkt link please 🥺
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 3 ай бұрын
@user-ns6oz9xk7b just type DS01 into Google and magic ✨
@esco.letsgo
@esco.letsgo Жыл бұрын
What about a dormant company with 1 director & PSC that has never traded with late fillings fees under £500.00
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
These should be fine with one director
@hishamomer67210
@hishamomer67210 9 ай бұрын
@@UK-Property-Tax-Accountantswhat would be different with two directors
@aaronhelsby8214
@aaronhelsby8214 10 ай бұрын
I started a Ltd company with one other person (50% each) no trading yet. Can I just strike off?. He doesn’t put in any effort at all and before we start earning I would like to go on my own
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 10 ай бұрын
Sadly not. You will need to involve a lawyer to exit them or resign as a director and give up your shares
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
How to take money out of a company www.optimiseaccountants.co.uk/what-is-a-uk-property-investment-company/extract-tax-free-cash-from-a-property-investment-company/ Need a buy to let mortgage? survey.zohopublic.com/zs/GuCCYx Close a company on Companies House www.gov.uk/government/publications/strike-off-a-company-from-the-register-ds01
@alihashmi4342
@alihashmi4342 4 ай бұрын
need to close down my company! I am the only director with no employees etc. I have not earned more than 500 pounds in an year and now want to close down the company, will I have to pay any taxes other than that 10 pound fee? And as I don't have anyone in my company, all I have to do is, fill the ds form and that's it! right?
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 4 ай бұрын
If you have and £500 you will need to complete a set of accounts and submit those to companies house and HMRC before you use DS01 form to close the company
@alihashmi4342
@alihashmi4342 4 ай бұрын
@@UK-Property-Tax-Accountants i have withdrawn the money
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 4 ай бұрын
Do you still need to file Accounts and pay tax on the profit you have made?
@alihashmi4342
@alihashmi4342 4 ай бұрын
@@UK-Property-Tax-Accountants i dont think so because i didn't reach the threshold and closing my company in just one year. Moreover it wasn't the profit, if i calculate spendings on ads and products, i was in loss 😂 this is the reason i am closing the company.
@SorabeeZ
@SorabeeZ 11 ай бұрын
do i need to tell hmrc or anyone else that i plan/close my company?
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 11 ай бұрын
All the details you seek are in the video. Please watch it fully
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 11 ай бұрын
Only suppliers with long term contracts. No one else though
@vt356b
@vt356b Жыл бұрын
Very clear and useful. Next - how to close down a company with assets > £25000...?
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
You need a liquidation specialist
@zkk6723
@zkk6723 Жыл бұрын
Is compulsory to send HRMS LAEETER
@zkk6723
@zkk6723 Жыл бұрын
It's mendotory to send copy to HRMS?
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants Жыл бұрын
It is always worth sending them a letter to confirm
@ghazalamalik6980
@ghazalamalik6980 3 ай бұрын
I spoke to hmrc. They told me they get automatically informed so don't need to bother. Still worth ringing them to inform and note. You need to do end of year accounts and to note they are final accounts to hmrc. Oh, and empty your business account before closing it else you lose your monies.
@UK-Property-Tax-Accountants
@UK-Property-Tax-Accountants 3 ай бұрын
@ghazalamalik6980 the last point is super important
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