UK Potential closing limited company

[Swampydrill]

Not sure if correct forum but looking for some further advice. I am currently going through a divorce and one option is to close the limited company in order to cleanly divide funds. I have been told by my accountant that i could close via Members voluntary liquidation and incur 10% tax. I work through this company (mostly overseas), the accountant tells me i could not open another company up for minimum 2 years after liquidating one. My question to him was (he was not convincing in his reply, hence the question here), what if i open another limited company up prior to closing this one down ?

 

[Yash]

Not sure if correct forum but looking for some further advice. I am currently going through a divorce and one option is to close the limited company in order to cleanly divide funds. I have been told by my accountant that i could close via Members voluntary liquidation and incur 10% tax. I work through this company (mostly overseas), the accountant tells me i could not open another company up for minimum 2 years after liquidating one. My question to him was (he was not convincing in his reply, hence the question here), what if i open another limited company up prior to closing this one down ?

Hi, looks like you are correct, if you have one more company then voluntary liquidation of subsidiary does not affect other group company. Look at the company letter www.bousteadprojects.com/announcement/2017/2017-11-06%20Voluntary%20Liquidation%20of%20Subsidiary.pdf

 

[Yash]

Not sure if correct forum but looking for some further advice. I am currently going through a divorce and one option is to close the limited company in order to cleanly divide funds. I have been told by my accountant that i could close via Members voluntary liquidation and incur 10% tax. I work through this company (mostly overseas), the accountant tells me i could not open another company up for minimum 2 years after liquidating one. My question to him was (he was not convincing in his reply, hence the question here), what if i open another limited company up prior to closing this one down ?

http://investor.declout.com/newsroom/20171031_183727_5UZ_VH5OVHGEOBNT953T.1.pdf This article also shows about closure of wholly owned subsidiary. May you can create one more company and make this (old) company as a subsidiary and liquidate the old one.

 

[Swampydrill]

Thanks but this is out in Asia, not relevant to UK law i doubt

 

[Yash]

Thanks but this is out in Asia, not relevant to UK law i doubt

Hi, upon further web search I came across this Article, In 7.1- It says that if your present company is not insolvent then you will be favoured if you give notice to reuse the business name within 7 days of old company liquidation. So you can dissolve it legally and open a new one. Better contact a new solicitor.

https://www.gov.uk/government/publi...-the-company-name-after-insolvent-liquidation