Company Strike Off / Striking Off Advice From Specialists – Bridge Newland
Are you considering closing your company by way of a strike off? or have come across the term ‘striking off’ but dont know if this is suitable for your Company? – Well below is an explanation of the process and some guidance on when it is most suitable.
Can my Company be struck off if it is still trading or has outstanding creditors?
Striking off is the term which is given to the removal of a Company from the register of companies at Companies House (i.e. to strike the Company off the register).
A company can only be struck off the register if it is non-trading and all of the company’s debts/creditors have been paid therefore if the company has outstanding debts/creditors then it cannot be struck off.
If you have received notice that your company is to be struck off (perhaps because you have failed to complete annual returns or accounts) and you have outstanding debts/creditors then you must ensure that you dispute the striking off. This is so you can either continue to trade or to place the Company into an insolvency process. Should you allow your company to be struck off with outstanding debts/creditors then you may be personally liable to action for misfeasance.
Can I apply to strike off my company myself?
If you wish to apply to strike off your Company yourself then you need to complete the correct forms available at Companies House and pay the fee as required by them. See the Companies House website for more details.
Can a disputed creditor object to a striking off application?
Yes they can therefore it will be your responsibility to evidence that this creditor does not have a valid claim, or to ensure that it is settled before the application is made.
What does “dissolution” mean?
Dissolution is the term used which explains the status of a company once it has been struck off for 3 months or more (i.e. it has been dissolved as it has been struck off over 3 months ago).
Can I re-instate my company to the register after it has been struck off and dissolved?
Yes, although you will usually need a solicitor to do this and the cost can range from £750 – £15,000
So if you need Company Strike Off / Striking Off Advice call our Midlands office in Rugby, Warwickshire free on 0800 612 6197 and we would be glad to help.