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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I have a company which has a large vat deb. If it seeks to

Customer Question

I have a company which has a large vat deb. If it seeks to pay this debt it will jepodise the company moving forward. Am I at liberty to close the current company and restart with a new company?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.

Hello my name is ***** ***** I will help you.

How much is the debt please?
Alex

Customer: replied 1 year ago.
163;30,000 approximately. The debt could be repaid within 30 months but as I am expanding the business I will need additional cashflow. My accountant has suggested closing the company and starting a new company but I am concerned there maybe ramifications not least to future borrowing.
Expert:  Ash replied 1 year ago.

Thanks. Yes you could close the company down. You would need to complete form DS01

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/429544/DS01_V7.0.pdf

There is a fee of £10 as well.

However you should send notice to dissolve the company to all creditors, which includes HMRC who may object.

Or you could not pay the debt and get HMRC to make the company bankrupt.

Can I clarify anything for you about this today please?
Alex

Customer: replied 1 year ago.
Sorry but for clarification if the HMRC object can I still go ahead with closure?
Expert:  Ash replied 1 year ago.

No, in that case it gets put back by 3 months, before its re-advertised.

Does that clarify? Alex

Customer: replied 1 year ago.
Not really. I am happy to pay for a chat with you but I will need certainty that you can answer the question so that I am in a suitable position to make a decision. Can you confirm that I will be clear of my options following our discussion?
Expert:  Ash replied 1 year ago.

Yes I can answer the question. Its what I do for a living.

You dont have to accept the phone call if you dont want to - but some people prefer it as it means I can give you the information quickly.

Customer: replied 1 year ago.
I accept. My number is ***** Would it be possible to call at 11.30 as I have an online meeting now?
Expert:  Ash replied 1 year ago.

Can you click the accept button for the phone call?

Ash and other Law Specialists are ready to help you
Expert:  Ash replied 1 year ago.

You may just need to remind me at 11.30am

Customer: replied 1 year ago.
Could you please call me now on***********Many thanks *****
Expert:  Ash replied 1 year ago.

Thanks. Alex