How do I wind up my LAQC?

Our Experts Answer:

It's fair to say that they are easier to establish than they are to get rid of. You will need to dispose of the properties then enter into a voluntary solvent liquidation. There is a procedure to follow to achieve this which includes filing the final tax return and gaining the IRD's consent to the liquidation. The IRD will generally need the following:

• Date the company intends to wind up
• Reason for windup
• Year of final return
• Date final return filed
• Details of assets and what will happen to them
• Detail of any assets transfered to shareholders at below Market Value
• Actions towards outstanding returns or debts
• Contact person for future matter.

Once this is gained you can apply to the companies office for strike off.

Mark Withers and his team at Withers Tsang & Co specialise in advising on property related transactions, valuation and restructure services and tax planning.