Thank you for the advice to date but I still need further clarifications:
1. If I wind things up at this stage, is there a possibility that I will be made personally bankrupt because of the overdrawn directors loan account - will the HMRC do this or write the debt off? As previously me or the company have no personal assets whatsoever.
2. Am I able to wind both companies up and agree a payment plan with HMRC for the amount outstanding so that they will not personally bankrupt me if this is the situation.
3. Am I able to wind up the companies voluntarily myself?
Okay thank you.
1. This alerts me - how would I be struck off becoming a director? Re looking at my records and turning a blind eye - if I have arranged payment plans with the HMRC and are meeting them and still trading am I allowed to do this? I am also looking at transferring monies from my other company account to meet debts - is this acceptable?
2. What do you mean what I owe personally? I owe HMRC as I detailed in original message.
So I could still trade both companies for the next 12 months and pay off my creditors and continue to trade if I continue to get business in?
Also, if I pay off my creditors, do I still have to pay back over £30000 to the company? The overdrawn directors loan account confuses me.