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Closing a Limited Company

Close your limited company, properly

Winding down your company is more than just telling Companies House. We handle your final accounts, your last corporation tax return and the strike-off, so it’s done correctly and you can move on.

Get in touch Call 020 3637 9939

Talk to us about closing down

Tell us about your company and we’ll explain your options and what it involves.

    Established 2017 ★★★★★ Rated Excellent on Google FreeAgent Gold Partner HMRC-registered agent ICPA member
    Done right, the first time

    There’s a right way to close a company

    Whether you’re returning to employment, retiring, or simply winding down a company you no longer need, closing it properly matters. Skip a step and you can face penalties, or miss out on tax-efficient ways to take out what’s left.

    We’ll prepare your final accounts and tax return, make sure any remaining profit is dealt with sensibly, and handle the strike-off with Companies House — so the company is closed cleanly and on the record.

    • Final accounts & tax returnYour last set of accounts and corporation tax return, prepared and filed.
    • Profit extraction guidanceSensible advice on taking out what’s left in the company.
    • Strike-off handledWe submit the DS01 strike-off application to Companies House.
    • No loose endsVAT and PAYE deregistration so nothing is left open with HMRC.
    How it works

    Closing down in three simple steps

    1

    Get in touch

    Tell us about your company and why you’re closing it. We’ll explain your options.

    2

    We prepare everything

    Final accounts, your last tax return, and guidance on taking out any remaining funds.

    3

    We strike it off

    We handle deregistration and the strike-off application, so the company is properly closed.

    Get in touch
    Important to know

    Informal strike-off — and when you’ll need more

    The service above is an informal dissolution — a voluntary strike-off at Companies House. It’s the simplest, most cost-effective way to close a solvent company you no longer need. So you know exactly what’s involved:

    • Solvent companies onlyYour company must be able to settle any outstanding debts. If it can’t pay what it owes, it can’t be informally struck off — that needs a formal liquidation instead.
    • The £25,000 ruleUp to £25,000 of remaining distributable reserves can be taken out as capital when the company is struck off — often more tax-efficient, and it may qualify for Business Asset Disposal Relief. If the total comes to more than £25,000, HMRC treats the whole amount as income (dividends).
    • Larger reservesTo take more than £25,000 as capital, you’d use a Members’ Voluntary Liquidation (MVL) — which must be carried out by a licensed insolvency practitioner.
    • Accountants, not insolvency practitionersWe handle informal strike-offs. If an MVL or a formal liquidation is the right route for you, we’ll let you know so you can arrange one with a licensed insolvency practitioner.

    These are general rules and can change, and the right route depends on your company’s circumstances. We’ll confirm what applies to you before anything is filed — this isn’t personal tax advice.

    Questions

    Closing a company FAQs

    How do I close my limited company?
    Usually by preparing final accounts and a closing tax return, dealing with any remaining funds, deregistering for VAT and PAYE, and applying to strike the company off at Companies House. We handle the whole process for you.
    What happens to money left in the company?
    Any remaining profit needs to be taken out before closure, and how you do it affects your tax. We’ll advise on the most sensible approach for your situation.
    Can you close a dormant company?
    Yes. If your company is dormant and no longer needed, we can prepare any outstanding filings and handle the strike-off.
    How long does it take?
    Once final filings are done and the strike-off is submitted, Companies House typically takes a couple of months to formally dissolve the company. We’ll keep you posted throughout.
    What does it cost?
    It depends on your company’s situation and what filings are outstanding. Get in touch and we’ll give you a clear quote up front.
    Is this a formal liquidation (MVL)?
    No — this is an informal strike-off (voluntary dissolution), the right route for most small, solvent companies. A Members’ Voluntary Liquidation (MVL) is a separate formal process carried out by a licensed insolvency practitioner, usually worthwhile when you have larger reserves you want to take as capital. We’re accountants, not licensed insolvency practitioners, so an MVL would need to be arranged with a licensed insolvency practitioner.
    What if there’s more than £25,000 left in the company?
    On an informal strike-off, up to £25,000 of distributable reserves can be treated as capital. If the total is more than £25,000, HMRC treats the whole amount as income (dividends). To take a larger amount as capital you’d normally use an MVL via a licensed insolvency practitioner — we’ll talk you through which makes sense for your numbers.
    What if my company can’t pay its debts?
    An informal strike-off is only for solvent companies. If your company is insolvent (can’t pay what it owes), it needs a formal liquidation handled by a licensed insolvency practitioner.

    Ready to close your company?

    Tell us about your situation and we’ll explain exactly what’s involved and what it would cost. No obligation.

    Get in touch Call 020 3637 9939