Closing a UK Company – UK Company Dissolution
If you no longer require your company and wish to have it struck off the company register we can assist with a UK Company Dissolution.
There are many reasons a company may need to file for dissolution beyond simply ceasing trading or maybe not even getting started.
Other reasons include a retirement, merging with another company or being acquired.
Irrespective of the reason it is very important to take the necessary steps to dissolve the company correctly, don’t just leave it and walk away. As a Director you need to comply with regulations as well as protect yourself from potential risk and fines.
Our dissolution service has the company struck off at Companies House in accordance with the UK Companies Act and once the company is removed from the Register it no longer exists as a legal entity and cannot continue trading.
If the company has liabilities then it must apply for voluntary liquidation rather than company dissolution.
UK Company Dissolution Fees
- Company Search – £40
- Our Service Fee – £240
Having your UK Company Dissolved
Having your UK company voluntarily dissolved rather than struck off by Companies House has many advantages:
- It is a straightforward process compared to company liquidation
- It avoids formal investigation into the conduct of the directors as required in liquidation or receivership.
- Maintains the company’s directors and shareholders reputation for future business ventures
- It avoids the costs of liquidation, fees and expenses.
Requirements for UK Company Dissolution
We assist with UK company dissolution under Section 1003 of the Companies Act 2006, providing that the company meets the following requirements:
- It has not traded in the last 3 months
- Not changed the company name in the last 3 months
- Is not subject to any legal proceedings, current or proposed
- Has not made a disposal for value of property or rights
- Engaged in any other activity except one necessary for making a striking-off application, settling the company’s affairs or meeting a statutory requirement. A company can, however, apply if it has settled trading or business debts in the previous three months.
Once Companies House confirms that the company is not carrying on business and is not in operation, its name may be struck off the register and dissolved without going through liquidation.
Companies Act Extract – Striking off on application by company
(1) On application by a company, the registrar of companies may strike the company’s name off the register.
(2) The application—
(a) must be made on the company’s behalf by its directors or by a majority of them, and
(b) must contain the prescribed information.
(3) The registrar may not strike a company off under this section until after the expiration of three months from the publication by the registrar in the Gazette of a notice—
(a) stating that the registrar may exercise the power under this section in relation to the company, and
(b) inviting any person to show cause why that should not be done.
(4) The registrar must publish notice in the Gazette of the company’s name having been struck off.
(5) On the publication of the notice in the Gazette the company is dissolved.
(a) the liability (if any) of every director, managing officer and member of the company continues and may be enforced as if the company had not been dissolved, and
(b) nothing in this section affects the power of the court to wind up a company the name of which has been struck off the register.
Information we require from you
In order to proceed with your company dissolution we require the following:
- Has the company a bank account
- Is it VAT registered
- Has the company ever filed a tax returns with HMRC
- Does the company have any liabilities
- Have all the shareholders been informed and are in agreement
Once you supply the above details, we can apply to Companies House on your behalf to have the company Voluntarily Struck Off and cease trading.
Voluntary Strike-Off and Dissolution
We offer a Strike Off service in the UK and can apply to have your company voluntary closed down. We apply to the Registrar of Companies for your company to be struck off the register and dissolved.
Voluntary Strike Off is an option generally available for companies which have ceased trading and have no assets or liabilities.
Applying for a Company to be Struck off the Register
The procedure is not an alternative to formal insolvency proceedings where these are appropriate, as creditors are likely to prevent the striking off.
Striking-off is only applicable to a private company if, in the past three months, it has not:
If you have decided that you no longer want to retain your company and wish to have it struck off, the registrar will not normally pursue any outstanding late filing penalties unless you restore the company to the register at a later stage.
The registrar will publish notice of the proposed striking off in the London Gazette to allow interested parties the opportunity to object.
Companies House receives the application from us on your behalf, a copy of this notice will be placed on your company’s public record.
If there is no reason to delay the registrar will strike the company off the register not less than 3 months after the date of the notice.
The company will be dissolved on publication of a further notice stating this in the Gazette.
Companies which are dormant or no longer trading can choose to apply for strike off. If you have decided that you do not want to retain your company and wish to have it struck off, the registrar will not normally pursue any outstanding late filing penalties unless you restore the company to the register at a later stage.