Strike off

Published: 07 Jun 2012

 

Written by Ray Coman

 

If you no longer want your company you can apply to have it struck off. A company cannot make an application to be struck off voluntarily if it has traded or changed its name in the three months prior to the application date.

The directors are legally obliged to send a copy of the striking off application to the shareholders, employees and creditors, including any bank and HM Revenue & Customs where they are owed by the company. These parties must be notified within 7 days of the application being made.

Once received, Companies House will update the registrar with the application. A proposal to strike off can be viewed online by searching the company name via the register on the Companies House Website. The registrar will also publish the proposal to strike the company off in the Gazette. During this period the company members or creditors can object to the striking off of the company.

If no objections are received the company will be struck after a period of three months.

Restoration to the register

Any person who had a contractual relationship with the company may apply for the company to be restored to the register within six years of it being struck off. The restoration may be carried out for the purpose of making a legal claim against the company.

Former directors or shareholders may apply for a restoration to the register if their company has been struck off due to a failure to file documents by the respective deadline. This process is called administrative restoration.

The professional fees associated with an informal striking off are considerably lower than those for a formal insolvency or liquidation. We would be pleased to assist with your requirements in a meeting.

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