Closure of LTD company process

[nbhatt]

Hi all,

I was wondering if someone can share their experience whilst closing a LTD company and opening a new company under Tier 1 Entrepreneur visa 50K route.

Whilst checking the guidelines online I understand that you can only strike off the company provided company can pay its bills by striking off - hasn’t traded or sold off any stock in the last 3 months
hasn’t changed names in the last 3 months
isn’t threatened with liquidation
has no agreements with creditors, eg a Company Voluntary Arrangement (CVA)
If your company doesn’t meet these conditions, you’ll have to voluntarily liquidate your company instead.

Going through voluntarily liquidation how is the experience or can you please share either of your experience or shed some light. IS there any other solution or advise that we can follow that would be of great help to everyone.
regards,
N

[marcnath]

Hi all,

I was wondering if someone can share their experience whilst closing a LTD company and opening a new company under Tier 1 Entrepreneur visa 50K route.

Whilst checking the guidelines online I understand that you can only strike off the company provided company can pay its bills by striking off - hasn’t traded or sold off any stock in the last 3 months
hasn’t changed names in the last 3 months
isn’t threatened with liquidation
has no agreements with creditors, eg a Company Voluntary Arrangement (CVA)
If your company doesn’t meet these conditions, you’ll have to voluntarily liquidate your company instead.

Going through voluntarily liquidation how is the experience or can you please share either of your experience or shed some light. IS there any other solution or advise that we can follow that would be of great help to everyone.
regards,
N

This has nothing to do with your T1E visa or any immigration matter.

But UK is one of the easiest to both set up and close down a company. Instructions are very clear on the Companies House website and it just costs £10 to close your company.

[zimba]

I suggest to seek the advice of your accountant to properly close your company. As noted above by marcnath, this has nothing to do with Tier 1E rules