Winding Up of Companies

People begin winding up companies for all sorts of reasons, including when they become employed elsewhere and as part of personal retirement plans. Regardless of the reason for winding up your company, it’s important that you get in touch with an accountant before you begin the process.

The winding up process presents significant tax planning opportunities on the one hand and the risk of losing assets on the other. The latter can occur, for example, when assets remain within the business at the striking off date, which can happen unless certain procedures involved in the company winding up process are performed in a particular order.

When a company has already been wound up, it can be very expensive to get it reinstated with Companies House, so these issues are best addressed by consultation in advance of taking any action.

We appreciate that the decision to wind your company up may have been stressful and emotional, which may leave you feeling inclined to simply “get on and be done with it”. However, seeking our support for this final stage of your company’s journey could end up saving you a lot of money.

So if you’re considering or are even part way through winding up a company without having first taken professional advice, please do get in touch.

To discuss how Adams Accountancy can assist you with the Winding Up of your company, please contact us for a free, no obligation consultation on: 01322 250 001 or complete our Contact form and we will get back to you promptly.