closing a ltd co. down

[Rob_T]

have a ltd company that has some properties in it. what is the most tax efficient way to close the company down after selling off the assets?

[Eric Mc]

Once the assets are sold, creditors paid off, final bank balances withdrawn and any outstanding taxes are paid, the simplest method of shutting a company down is to apply to Companies House to have the company struck off.

[wattsm666]

You may want to seek advice on the tax situation. Selling the properties, on the assumption they are worth more now than when purchased, will create a capital gain in the company. Once you liqudiate/strike off the company and distribute the remaining assets a further tax charge will arise. It is always worth a conversation with a good accountant to see if the double tax charge and be reduced somehow.

[Eric Mc]

I assume the company does have an accountant?