Dissolution / Strike off Application
What is a dissolution?
What is a Dissolution / Strike off?
This is where a company is solvent (has no assets and no debts), has ceased to trade, and is no longer needed.
A DS01 form is an online application through Companies House that allows a director to apply for the dissolution. The application costs £8 online, or £10 for a paper application.
How long does a dissolution take?
The dissolution can take up to 2 months. The application is lodged in the London gazette which is a publication.
HMRC and the Bank have automated alerts to when a company is applying for dissolution. If there are outstanding debts to HMRC, the Bank, or other creditors, then there can be an objection to the process. This is anonymous and easy to do. If this happens, the company is back to square one again.
Get in touch to understand which option is most suitable for your business and circumstances.
Do I need to tell creditors about my strike off application?
Before you complete a strike off application, you must inform interested parties, such as any creditors and HMRC. It is a criminal offence not to inform your creditors of your intent to dissolve a company within 5 days. If your company has creditors (debts), then a strike off may not be the best route as any outstanding debts must be repaid beforehand.
Get in touch with our team to assess all your options.
Can I dissolve an insolvent company?
If your company is insolvent and owes money to creditors, it cannot be dissolved. A dissolution is a process for solvent companies.
If your company has outstanding debts, is insolvent and needs to close, an alternative option to close your company could be a Creditors Voluntary Liquidation. However, it is vital you assess all your options and any implications by speaking to an experienced team - get in touch with us today.
Can my company be reinstated after it has been struck off?
If a company gets struck off the register by accident or it has debts that HMRC or other creditors didn’t pick up, then it can be reinstated so be aware and consider other options if the company has debts.
Speak to our experienced team for FREE guidance on this.Get in touch
Can Companies House strike my company off?
Sometimes, if companies house have not had confirmation statements or filed accounts then they can strike the company off themselves. You need to keep up to date records to avoid this happening as, if it does, any money would go to the crown.
- Does the company have any outstanding creditors or assets?
- A Dissolution can be objected by anybody.
- It is a criminal offence not to inform your creditors of your intent to dissolve a company within 5 days.
Take free advice before you try to strike the company off, as you could be back to where you started in a couple of months.Get in touch
Our team are experienced in assessing the most suitable route for your business. Our service is free, impartial and takes 5 minutes. The Directors HelplineGet in touch