IR4 Question 11 Has the company ceased?

If this is a final return, include a set of accounts up to the date the company ceased trading and include details of any distribution of assets and liabilities.

If the company is registered for GST or as an employer, you will need to complete a Business cessation (IR315) form to finalise your records.

Depending on the company’s circumstances, a number of other issues may need to be finalised, for example:

• outstanding returns

• arrears

• FBT or ACC

• imputation account balances (for qualifying companies)

• specified superannuation contributions

• RWT on dividends

• 10-year bonus issues.

Find out how to finalise the company’s tax accounts or de-register for GST at www.ird.govt.nz.

A company is still a legal entity until it is taken off the Companies Register. A company can stop trading (become non-active) but still have tax obligations such as filing returns. Non-active companies can be excused from filing—see IR4 Company returns#expand-Non-activecompanies.