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Task 4 Winding up the company Our business has reached to dissolution because of: * The partnership is no longer profitable, and therefore there is no reason to carry on the business. * We do not want to run the business any more because of circumstances such as exams are coming up therefore they decide to terminate the business. Dissolution takes place this means that we should stop our trading and operating activities. We will have to follow the Parternership Act 1890: The assets are disposed of. What the company owes is given out. The partners are paid their final amounts. Steps to closing my business, by doing the legal documents. 1. Cancel your business registration for the partnership 2. File a last tax return if you have dissolved a corporation 3. Close your payroll accounts When we wind up our business we need to pay back all the debts we incurred to our...

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