Close Ltd company with debts

[flatsix3.6]

I am due to health reasons considering closing a ltd company and the only debt is with companies house, can CH stop this action or does the debt die with the company.

[Eric Mc]

What action?

Are you formally liquidating the company or planning to apply to Companies House for a simple "striking off".

If the latter, Companies House may block the application on the grounds that they know there are third party debts due - namely themselves.

[anonymous-user]

I am curious about the debt - the only bill our ltds get from CH is for an annual return: £13

[Eric Mc]

There can be larger amounts due - especially if the company has been late in filing accounts or other statutory submissions.

[flatsix3.6]

Eric Mc said:

There can be larger amounts due - especially if the company has been late in filing accounts or other statutory submissions.

This

[Eric Mc]

Exactly my assumption.

Pay the fines. Close the company.

How much are the fines?

[JustinP1]

Yes, that is the simplest method.

Possibly reading between the lines though, the company may not have any funds, and the only debt would be months/years of late filing fees.

The issue (I think) is if the director should/must put his own funds to pay the company's debts, because of course it is technically possible to close a Ltd Co with debt, the issue is which way to close it.


(apologies if I've misunderstood flatsix...!)

Edited by JustinP1 on Tuesday 20th October 13:27