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bigduckontax
bigduckontax, Accountant
Category: UK Tax
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Experience:  FCCA FCMA CGMA ACIS
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A company has been dissolved at Companies House for non

Customer Question

A company has been dissolved at Companies House for non filing of the annual return. The Bank account has been frozen with £6.5k in it. The VAT liability and Corporation Tax liability is greater than £6.5k. Does the director have to ressurrect the company?
JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?
Customer: Its likely that the owner will create a new business doing the same thing. They have never completed a DS01 and no one objected to the dissolution (they didn't realise it was a possibility until the bank card got ceased).
Submitted: 2 months ago.
Category: UK Tax
Expert:  bigduckontax replied 2 months ago.

Hello, I am Keith, one of the experts on Just Answer, and happy to help you with your question.

Customer: replied 2 months ago.
A company has been dissolved at Companies...
A company has been dissolved at Companies House for non filing of the annual return. The Bank account has been frozen with £6.5k in it. The VAT liability and Corporation Tax liability is greater than £6.5k. Does the director have to ressurrect the company?
JA: The Accountant will know how to help.Is there anything else the Accountant should be aware of?
Customer: Its likely that the owner will create a new business doing the same thing. They have never completed a DS01 and no one objected to the dissolution (they didn't realise it was a possibility until the bank card got ceased).
Customer: replied 2 months ago.
Sorry for being thick, but I don't see any answer....?
Expert:  bigduckontax replied 2 months ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

The director could apply to have the company reinstated, but then as liabilities exceed assets he would have to put the company into liquidation anyway.

If he commences a new business he will have to be careful that as part of the antics with the earlier company he has not been disqualified as a director.

I do hope that I have been able to shed some light on the position.

Customer: replied 2 months ago.
are HMRC going to go after the director personally or not?Can they?
Expert:  bigduckontax replied 2 months ago.

This is not possible save where a fraudulent preference has occurred. That is where one creditor has been paid in preference to another when the company has insufficient funds to settle all outstanding debts.

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