EXTENSION - Can we start a new business and shut the old

[shanky]

Hi guys

Im on my T1 Ent 2 years Extension. Already employed 2 people for first 12 months in my EXTENSION period and business has no employees at the moment. Wondering if I can leave this company inactive from now on and start a new business under new LTD company ?

Are we allowed the dissolve the old company and start a new one in different sector?

[samaygrg]

Hi guys

Im on my T1 Ent 2 years Extension. Already employed 2 people for first 12 months in my EXTENSION period and business has no employees at the moment. Wondering if I can leave this company inactive from now on and start a new business under new LTD company ?

Are we allowed the dissolve the old company and start a new one in different sector?

I reckon (had read in the guidance as well), it is allowed switch/change/diversify as long as we create 2 FT jobs for 12 months and run the business in a credible way.