Problems arise when companies enter formal winding up which are highlighted in mandatory online filing, therefore insolvent companies in any form of formal winding up or administration procedure are exempt from filing online. However this exemption does not apply to companies moving towards informal striking off or those entering a MVL.
Risks can arise as a result of the termination and striking off which need to be considered, therefore a full company tax return is required.
Normal filing requirements for a solvent company apply to the return for any period for which HMRC issue a notice even in an MVL where an insolvency practitioner has been appointed.
An accounting period of the company ends when it ceases to trade or ceases to be within…
Read the full article at: https://www.cchdaily.co.uk/guidance-updated-companies-entering-liquidation
