C
ceecee
Guest
Hi everyone,
first post on here but long time reader. Which makes me feel even more stupid for having to post this!
I foolishly (based on advice) set up a Ltd. company before Christmas. I really should have gone the sole trader route & now I don't know how to go about reversing the situation.
I want to completely shut down the Ltd. Company. When I started it I lodged my own money to the account and I have bought stock. Myself & husband are directors and I am the 100% shareholder. Apart from buying stock and a couple of business to business transactions(paying for website etc.) there has only been one very small sale. I have registered for Vat and having only been in a refund status I realise I would have to pay this back. (around 800e) Also personally finances are non existent so terrified of how much closing up could cost!
As I have no idea what way to go about this I have been paralysed against doing anything & its getting silly now.
What are my options regarding shutting down the Ltd company and going at it as a sole trader? Are you allowed do this? would it be members voluntary liquidation?what happens the stock and money I have put in? I do still want to have this business/love my idea but not as a Ltd. company(wish I had never done that now)
Thanks for reading-I'm so confused..hope to get some great AAM advice
first post on here but long time reader. Which makes me feel even more stupid for having to post this!
I foolishly (based on advice) set up a Ltd. company before Christmas. I really should have gone the sole trader route & now I don't know how to go about reversing the situation.
I want to completely shut down the Ltd. Company. When I started it I lodged my own money to the account and I have bought stock. Myself & husband are directors and I am the 100% shareholder. Apart from buying stock and a couple of business to business transactions(paying for website etc.) there has only been one very small sale. I have registered for Vat and having only been in a refund status I realise I would have to pay this back. (around 800e) Also personally finances are non existent so terrified of how much closing up could cost!
As I have no idea what way to go about this I have been paralysed against doing anything & its getting silly now.
What are my options regarding shutting down the Ltd company and going at it as a sole trader? Are you allowed do this? would it be members voluntary liquidation?what happens the stock and money I have put in? I do still want to have this business/love my idea but not as a Ltd. company(wish I had never done that now)
Thanks for reading-I'm so confused..hope to get some great AAM advice