Company now non-trading - should I liquidate?

S

Skydyed

Guest
Long story short - I ran a business for a number of years which was decimated by the recession. In trying to keep it going, and my men in work, I pretty much drained all my personal resources (included selling my house and moving into small apartment).

So, bottom line, it ceased trading at the end of 2010 with all suppliers paid and the only money owning is to myself. I think, at this stage, there's no point keeping it going as the business and money is a write-off. Is there a cheap and easy way to liquidate and get on with my life?

Being an unemployed self-employed person I have no social welfare entitlement and only get occasional work so would really welcome economical scenarios. If there is a way I haven't considered, I would welcome this too...
 
If the company has no assets or liabilities (you write off your debt) then you can apply to have it struck off. [broken link removed]
 


Yes, get this done ASAP. While it is still listed, you have statutory obligations re. the CRO, and if you file your returns late, you could end up with all sorts of fines and fees for professional services.

If your returns are up to date, get a voluntary strike off. If not, go for a Members Voluntary Liquidation.

The latter is more complex, but could well be cheaper if your returns are out of date.
 
Many thanks for the advice. I've just contracted a company to do this for me and hopefully it will go through without a hitch. It'd be great to see this closed off.
 
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