Winding up a company information needed!
Discussion
Hello all,
My business partner was a director in a Ltd up untill last August when himself and then partner decided to call it a day as they wanted to try their hand in other businesses.
They ceased trading mid October 2008 and filed for winding up. The accounts have been made and the corp tax bill worked out. This has now been today sent to the revenue for them to agree the company can be struck off.
Now the main query here is that my business partner and his old partner both have 30k each to take from the business after the corp tax is paid. He has been informed that he can only take this once the revenue have agreed the winding up of the company requested by Extra Statutory Concession C16?
My partner wants to get an idea of how long this can take as he has been waiting for months now to take the money and the red tape and paperwork is starting to become some what annoying.
Does anyone have any ideas how long it will take for the revenue to agree to wind up, thus allowing my partner to get his money? 1 week, 1 month?
Eric MC you might be the man who knows?
Thanks in advance
My business partner was a director in a Ltd up untill last August when himself and then partner decided to call it a day as they wanted to try their hand in other businesses.
They ceased trading mid October 2008 and filed for winding up. The accounts have been made and the corp tax bill worked out. This has now been today sent to the revenue for them to agree the company can be struck off.
Now the main query here is that my business partner and his old partner both have 30k each to take from the business after the corp tax is paid. He has been informed that he can only take this once the revenue have agreed the winding up of the company requested by Extra Statutory Concession C16?
My partner wants to get an idea of how long this can take as he has been waiting for months now to take the money and the red tape and paperwork is starting to become some what annoying.
Does anyone have any ideas how long it will take for the revenue to agree to wind up, thus allowing my partner to get his money? 1 week, 1 month?
Eric MC you might be the man who knows?
Thanks in advance
If there are no debts outstanding to HMRC, they should be able to go ahead to commence the shutting down process.
If all other liabilities have been cleared - including any amounts owed by the company to the directors, shareholders or employees, then no one should raise any objections to the company being struck off.
The striking off procedure is easy and free. All you have to do is complete the standard Companies House striking off application form and submit it to them. They will post a notice in the London Gazette that the company has applied for striking off. If there are no objections to the striking off raised by any third parties, the company will cease to exist after 6 months.
If all other liabilities have been cleared - including any amounts owed by the company to the directors, shareholders or employees, then no one should raise any objections to the company being struck off.
The striking off procedure is easy and free. All you have to do is complete the standard Companies House striking off application form and submit it to them. They will post a notice in the London Gazette that the company has applied for striking off. If there are no objections to the striking off raised by any third parties, the company will cease to exist after 6 months.
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