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.