An ‘informal’ liquidation, or ‘winding up’ is done by small companies applying to Companies House to strike the company off the register. This document discusses some of the issues a company and its shareholders face when they wind up a company. It provides guidelines on tax considerations on winding up, distribution of assets, taxation of distributions to shareholders, and rules on distributions in anticipation of dissolution.

Points discussed within this guidance note:

> Tax considerations on winding up

This note considers the process of an informal winding up process including captial distribution on winding up and the tax implications of winding up a company.

> Accounts

> Tax computation

> Filing of tax return

> Distributions

This note considers the tax implications of an informal winding up, including the law on distributions and the tax implications of distributions to shareholders.

> Company law on distributions

> Taxation of distributions to shareholders

> Distributions in anticipation of dissolution

> Transactions in securities (TiS)

> Transactions in securities (TiS)


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