Closing Litmited company or selfemployed

The closing process for a LTD company or self-employment in England is as follows:

Notifying HMRC: Within 3 months of the company’s liquidation date, HMRC (Her Majesty’s Revenue and Customs) should be notified of the termination of tax and settlement activities. This can be done using the
CT600 form (for LTD companies) or via an online application on the HMRC website.

Entering the liquidation register: Within 28 days from the date of notification to HMRC, the company must be entered in the liquidation register on the Companies House website. At the same time, you must make a statement that the company is in liquidation.

Checking accounting books and tax settlement: Before submitting an application for liquidation, check the company’s accounting books and complete the tax settlement for the last accounting period.

Approval of liquidation: Within 28 days of entering the company in the liquidation register, the liquidation application must be approved. If all formalities are correctly completed, the company is removed from the business register.

In the case of self-employment, the process is simpler because it does not require the company to be entered in the liquidation register and does not have to be approved. Just notify HMRC about the termination of operations and billing.