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Where Taxpayers and Advisers Meet

DS01 - striking off application before final PAYE payment

landlord1234
Posts:85
Joined:Sat Nov 26, 2011 3:39 pm
DS01 - striking off application before final PAYE payment

Postby landlord1234 » Thu Sep 09, 2021 8:23 pm

I am looking to strike off a Ltd Co. of which I am sole director.

The company is solvent, no debt, and there will be a small final balance (4 figures) to distribute.

The final payroll is planned for the end of this month 09/21

The company year end is 31/12/21

I would like the company struck off before the end of the year to avoid having to submit accounts for 2021.

Can I submit the DS01 today and still make PAYE payroll at the end of the month ?

or do I have to wait till payroll is closed with HMRC ?

Thanks

someone
Posts:521
Joined:Mon Feb 13, 2017 10:09 am

Re: DS01 - striking off application before final PAYE payment

Postby someone » Fri Sep 10, 2021 8:00 am

My understanding is that any assets in the company at the point it is struck off automatically become the property of the queen. That includes any money in any bank accounts belonging to the company.

So unless someone more knowledgeable about this process comes forward, I'd assume this is a very bad idea!

robbob
Posts:3146
Joined:Wed Aug 06, 2008 4:01 pm

Re: DS01 - striking off application before final PAYE payment

Postby robbob » Fri Sep 10, 2021 9:11 am

I would like the company struck off before the end of the year to avoid having to submit accounts for 2021.

Please read the full guidance BEFORE you apply to get your company struck off. Warning the minute the company is struck off all assets of company wil be tranferred to the crown (as advised by someone) - so you will lose any remainig bank balances and potentially not have access to phone websites formally in copmpany name etc - i am sure you know that fact but not everyone does !

https://www.gov.uk/strike-off-your-company-from-companies-register/close-down-your-company

https://www.gov.uk/government/publications/company-strike-off-dissolution-and-restoration/strike-off-dissolution-and-restoration

Impoortant notes from these links -IMHO you seem unaware of or are ignoring all the obligations you have here !!


Final accounts
You must send final statutory accounts and a Company Tax Return to HMRC.


2. When a company cannot apply to be struck off the register
For example, the company may not make an application for voluntary strike off if, at any time in the last 3 months, it has:
traded or otherwise carried on business

landlord1234
Posts:85
Joined:Sat Nov 26, 2011 3:39 pm

Re: DS01 - striking off application before final PAYE payment

Postby landlord1234 » Fri Sep 10, 2021 3:53 pm

Thanks for the replies

I ralise that i need to submit final accounts.

I was hoping to submit final accounts for period ending on or before 31/12/2021

rather than annual accounts to 31/12/2021 and then final accounts to some date early in 2022.

I hope that makes sense.

robbob
Posts:3146
Joined:Wed Aug 06, 2008 4:01 pm

Re: DS01 - striking off application before final PAYE payment

Postby robbob » Fri Sep 10, 2021 4:29 pm

Easiest thing to do is shorten year end to cessation date and use that date as year end - unlless you have specific reason not to do that.

landlord1234
Posts:85
Joined:Sat Nov 26, 2011 3:39 pm

Re: DS01 - striking off application before final PAYE payment

Postby landlord1234 » Fri Sep 10, 2021 9:25 pm

Sorry, I don't understand.

Do you mean extend ie delay year end ? is that possible ?

robbob
Posts:3146
Joined:Wed Aug 06, 2008 4:01 pm

Re: DS01 - striking off application before final PAYE payment

Postby robbob » Sat Sep 11, 2021 10:00 am

Do you mean extend ie delay year end ? is that possible ?
Nope i mean shortern
Example your yearly accounts rwould normally run 1/1/2021-31/12/2021
If you cease trading 30/9/2021 - you change this accounting periodto 1/1/2021-30/9/2021 -ie shorten from 12 month peirod to 9 month period.

The earlier your year end the sooner you can file ye info to hmrc and sooner you can get shot.

landlord1234
Posts:85
Joined:Sat Nov 26, 2011 3:39 pm

Re: DS01 - striking off application before final PAYE payment

Postby landlord1234 » Tue Sep 14, 2021 11:52 am

Thanks again, but I am struggling to understand a few things.

Does paying the final salary count as 'trading' ?

I read that the process takes 3 months from application to completion. Do I still have access to the funds in those 3 months ?

if the company ceased trading 30/9/2021 (small loss with no CT due) , sent off the DS01 in October 2021 and the process completed in January 2022 , would i need to submit further accounts for the period 10/21 - 01/22

If the company ceased trading 30/9/2021, would i need to do confirmation statement in December as I usally do ?


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