Closing down self employed business?

Question

My partner wants to close down his self employed business, where can we find the information about the people he needs to contact about closing his business eg the tax man
thanks

Answer 1

This requires a starting thought on making sure your info is correct.

if he is registered with Companies House and has an accountant, then that is a COMPANY, not a business. Get the accdountant to deal with.

Self employed people are 90% of the time Business; not registered as Companies. If it is a straightforward business, then that is fairly simple:

Pay off the bills
Finish any outstanding work
Don't take further work on
Close the bank account
Advise HMRC about the closure

Done

Answer 2

If he has been issued Tax Return form he needs to submit it to his tax office and on this form inform about closing business.

If you will close self-employment over the phone or by letter, you might still need to sent Tax Return or you migh be asked to send it in the future, so the best idea is to close it with Tax Return.

It has happen to me that I have been closing self-employment for 12 months with several letters sent to and from HMRC. And if you do not close it before 5th of April you will need to send Tax Return for the next year too!!!

I have used accountant to get it sorted as HMRC kept sending me penalty notice.

Answer 3

Does he have an accountant? If so he shoul know.

If not contact HMRC they should be able to help as it depends on the type of company.

Answer 4

Whats the organization besides? You in no way stated! perhaps you've been no longer promotion it properly enought to boost it? Is it an internet or land organization besides? both way reliable promotion = reliable sales & shoppers!--no count number number the organization theory. Rememebr there are some garbage agencies available yet they do properly because they market properly!(Theyre reliable sales human beings).