Cessation accounts are the final set of accounts your company will prepare and are in the same format as your annual financial statements. They cover all the activity from the date your company started trading – or when the last set of financial statements were prepared – up until your date of cessation.
As well as preparing accounts, formally closing a company involves deregistering HMRC schemes such as PAYE and VAT by advising them of cessation of trade. The work includes:
- Reviewing accounting records and preparing ongoing PAYE/VAT returns until the process is concluded.
- Preparing your cessation accounts.
- Completing your P45 and issuing any other payroll forms required.
- Applying to remove your company from the register at Companies House.