Private company dissolution service: just as setting up a new company can be difficult and confusing, taking one apart again can be a tricky process. If the time has come to wind your company down and remove it from the Companies House register, you need an expert who can make sure everything runs smoothly. Coddan> can assist with a new company formation and a company dissolution, helping you close everything down correctly and ensuring that you have filed everything necessary. If the time comes in the future when your company can be reinstated, a request to Companies House could get you back on track quickly. Company dissolution services are the easy and stress-free way to take care of a business shutdown.
|Dissolution of a Limited Company|
We charged £200.00 for the preparation and filing of a private limited company dissolution. Voluntary company dissolution is where an LTD applies to Companies House to be struck off and dissolved. Company can be dissolved, but, the following conditions apply: a company has not traded for three months; a company has no assets, property or cash at the bank; an LTD has not disposed of any property or assets; the creditors are circulated, requesting their permission for the company to be dissolved.
There are all sorts of reasons you may have decided to close down a limited company. An internal dispute between members could be one reason, or perhaps it's because a number of members are coming up for retirement. Maybe the private company isn't operating at a profit any more, despite your best efforts to turn things around, and you've simply decided that it's time to call it a day. Whatever the reasons may be, there is a set procedure to follow, as specified under current legislation.
Just as you had to make sure you completed all the appropriate forms when you first set up the company, you need to ensure all the appropriate paperwork is filled in, signed by the relevant individuals, and duly filed with Companies House. Failure to do so or not notifying all interested parties involved can lead to serious consequences. Closing down a limited company can seem a daunting prospect, but this is where the experience of the team at Coddan can be of help. We can take care of everything for you, and the process can be completed online. To find out more, please contact us today.
There are many reasons for dissolving a limited company, from bankruptcy to no longer needing that type of business structure and more, and the process for closing one is relatively straightforward. Here at Coddan we can guide you right through it so you don't encounter any difficulties later on.
The first step in the dissolution of a limited company is to get the agreement of everyone involved – from all the directors right through to the shareholders. If it's the case that the company has been unable to meet its financial obligations and is, in fact, insolvent, it's important to know that priority will be given to the creditors and not the shareholders or directors.
To wind up an insolvent company, directors have to go through a process known as creditors' voluntary liquidation in which the company's assets will be used to pay creditors before anyone else. It will then be struck off the register at Companies House and cease to exist. Solvent companies that wish to dissolve, on the other hand, can either apply to Companies House to be struck off or begin the process of members' voluntary liquidation.