How do I close my business?

In our brief guide we'll talk through your options for closing your business.

By Chris Andreou

Updated:

February 2, 2024

Business accountant available for free consultation
Get a free accounting consultation

We'll walk through everything you need for starting or switching.

How do I close my business? guide
How do I close my business? guide

Steps to closing your business

If you want to stop trading as a sole trader or you’re ending or leaving a business partnership, you need to inform HMRC. You’re also required to send a final tax return.

If you’re closing down a limited company, how you close your company will depend on whether your company is profitable or if it has reached the point of insolvency.

If you’re closing down a solvent company, you may apply to get your company struck off the Register of Companies or start a members’ voluntary liquidation.

If you’re closing an insolvent company, the company will have to be liquidated.

Read more Limited Company guides