Closing a business

Closing your business in a controlled way protects you from debts and penalties. Closing down requires notifications and finalising your bookkeeping.

You will need

• Bookkeeping
• A closure notification to YTJ
• An accounting firm

Steps

1. Settle your obligations

   Pay your debts and complete your contracts.

2. Inform your customers

3. Submit a closure notification

4. Cancel your insurance

5. Prepare the final financial statements

6. Deal with VAT

7. Keep your records

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