Closing a Company Bank Account
Posted: January 30th, 2020, 10:18 am
I am 66 and have been contracting for various agencies via a limited company (PSC) for five years. I am the only director and my wife & I are the only shareholders. I am the only person on the payroll. As I have not worked for a while there have been no payments into my Business account for the past 4 months however there have been some card payments and withdrawals from my business account every month.
The Buisness is solvent with a surplus balance in the account and no debts (in fact I am making a company pension payment this month to reduce the Balance to circa £16K). The 'Company year' accounting period is at the end of February.
If I get my accountant to produce the final unaudited accounts at the end of February, I assume this will take a couple of weeks, then I pay the Corporation Tax due and any dividends due to my wife and I, say in March. Can I then can apply for the company to be struck off as a solvent company and pay the £10 fee to Companies House ?
I understand the rules for dissolution of a company state that 'there should be no transactions within the 3 months prior to dissolution'.
Does this rule mean I can't close the company bank account for 3 months after I have made the last payments out for final Corporation tax, Companies House Fee and final Dividend payments to shareholders (ie so this will be June at the earliest) ?
I am asking this because my Bank is charging monthly fees.
Thanks
The Buisness is solvent with a surplus balance in the account and no debts (in fact I am making a company pension payment this month to reduce the Balance to circa £16K). The 'Company year' accounting period is at the end of February.
If I get my accountant to produce the final unaudited accounts at the end of February, I assume this will take a couple of weeks, then I pay the Corporation Tax due and any dividends due to my wife and I, say in March. Can I then can apply for the company to be struck off as a solvent company and pay the £10 fee to Companies House ?
I understand the rules for dissolution of a company state that 'there should be no transactions within the 3 months prior to dissolution'.
Does this rule mean I can't close the company bank account for 3 months after I have made the last payments out for final Corporation tax, Companies House Fee and final Dividend payments to shareholders (ie so this will be June at the earliest) ?
I am asking this because my Bank is charging monthly fees.
Thanks