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Tax refund goes to the Crown!

Hows this then!

  1. We close our limited company, complete our accounts and send them off with the cheque to the IR.

  1. Several months later the IR send us a cheque for interest and overpaid tax.

  2. We send the cheque to the bank.

  1. The bank closes the account because the business has closed. They say they haven't "seen" the cheque.

  2. I ask the bank what happens if I get a replacement cheque from the IR. They say "We cannot pay it to you - we pay it to the Crown"!

Howzat!

k.

Reply to
Kathy Burke
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Well you closed the company... if the company was liquidated then the liquidator should receive the money and then... probably you get it if you were shareholders and there were no outstanding debts. IANAL.

Stephen

Reply to
Steve Maudsley

Thanks, but no - the company wasn't liquidated.

  1. The rebate would be profits for the shareholders. After tax these could have been distributed to shareholders.

  1. My spouse and I were the sole shareholders.

K.

Reply to
Kathy Burke

What happened to it exactly? It was "closed" but not liquidated?

Yes. So if there still is a company you could set up another bank account.

Were? Who is now?

Reply to
Peter Saxton

In message , Kathy Burke writes

Then it nmust still exist. Is it still registered at companies house.

Which tax, surely it is a tax rebate?

Reply to
john boyle

If a company is struck off the register either by going into liquidation or because it has failed to send things like annual returns and accounts to Companies House, it's assets go to the Crown as bona vacantia.

If there is a fair amount of money involved, there is a procedure for restoring the company to the register to enable you to get the money. Talk to Companies House or your accountant.

Reply to
Alasdair Baxter

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