Closing the Limited Company - Going to ILR

[sangi]

Hi Team,

I have a question around Closing the limited company and going to ILR next year.

I used to work as Contractor through my limited company and went to the extension using this company on Dec 2012. By end of last year (Oct 2013), I have moved to permanent job (I am still the director of the limited company).

Now, I do not see going back to Contracting and would like to close the company properly (Like paying Corporation Tax, VAT and etc).

I am trying to understand whether this is an issue when I go for ILR next year?. I am having P60 generated from the Limited company and have an account who can close the company properly.

Thank you for your time.

Regards,
Shankar

[dilip_gem]

Hi,

Paying your company's liabilities (like Corporation tax, VAT etc) doesn't mean Closing of a company.
Dissolving a company takes at least 3 months. Also that doesn't affect your visa application as long as you mention all the details in your covering letter and also submit necessary documents (like Corporation Tax payment receipt, VAT Cancellation Certificate etc).
You will Not receive any documents from companies house after your company status gets changed to 'Dissolved'. You will have to keep checking your company status on their website once you send you application for cancellation of your company registration (normally through your accountant).

But for your Visa/ILR application, do keep all the documents - Dividends, Business Bank account statements, Invoices etc (as Home Office may need those details from you )

Thanks and Regards,
Dilip

[ilrtier1genral]

Hi Sangi,

Yes you can close the company but keep in mind before closing it check everything matches with records which you submitted to HO like Companies house filing and HMRc retuns etcs..cause sometimes there might be some changes in profit and loss as the dates of return changes.

I closed my company without proper checks and had to re-open with a court order and sort everything out which was very expensive.

Hope this helps,

[goldfish]

I am in a similar situation. I was director of my limited company (contracting)for 3.5 years. About 6 months ago I took a permanent job with another company. I am planning to keep my company open until my ILR application later this year. I am still not sure what documents I'll need to provide or how much focus will be on previous years vs most recent year. Sangi, have you planned what documents you will bring yet?

[sangi]

hi,

Thank you for the responses.

I am yet to close the company. I am kind of evaluating how much effort I need to put to make sure that closing the limited company will not effect ILR process.

-
Sangi

[sak20099]

Are you claiming points based on your company or permanent employment, just wondering why would it make difference to ILR application if your employment history summary mention all tax paid ?