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Coddan CPM Ltd. – Company Registration Agent in the UK
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Advantages of a Company Dissolution & Winding-Up

Advantages of a company dissolution & private company winding-up

Dissolution avoids the costs of liquidation, fees and legal expenses. It is a quick and clean removal of a dormant company from the Company's Register. It will avoid any formal investigation, which may take place to administrate the directors as required in liquidation or receivership. However, striking-off is only applicable to a private company if, in the past three months, it has not: -

  • Traded or otherwise carried on business
  • Changed its name
  • Disposed for value of property or rights that, immediately before ceasing to be in business or trade, it held for disposal or gain in the normal course of that business or trade; or
  • Engaged in any other activity except one necessary or expedient 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

For the reasonable fee we can conduct the dissolution procedure for a limited company or an LLP, if the conditions mentioned above are all met, do not hesitate to contact us if you have any further questions.

Please note: from the date of dissolution, any assets held by a dissolved company or a limited liability partnership will belong to the Crown. The company's business bank account will be frozen and any credit balance in the account will be passed to the Crown.

The directors who make the application must, within seven days of sending the application to the Registrar, send a copy to the following persons:

  • Members, usually the shareholders
  • Creditors, including all contingent (existing) and prospective (likely) creditors such as banks, suppliers, former employees if the company owes them money, property owners, tenants (for example, where a bond is refundable), guarantors and personal injury claimants. Also, you must notify appropriate offices of Her Majesty's Revenue and Customs (HMRC) and Department of Work and Pensions (DWP) if there are outstanding, contingent or prospective liabilities
  • Employees
  • Managers or trustees of any employee pension fund and
  • Any directors who have not signed the dissolution form

The company's directors must also send a copy of the application to any person who, after the application has been made, becomes a director, member, creditor or employee of the company, or a manager or trustee of any employee pension fund of the company. This must be done within seven days of the person becoming one of these.

What Should You Do Before Applying?

What Should You Do Before Applying?

There are safeguards for those who are likely to be affected by a limited company's dissolution. If your private limited company has creditors, a few members etc., you should warn all of these people before applying for voluntary dissolution, as any of them may object to the company being struck-off from Registrar. You should deal with any loose ends, such as closing the corporate bank account, the transfer of any domain names before you apply for the voluntary dissolution (closing a company). Contact us to see how we can help you.

They must also send a copy of the dissolution application to any person who becomes one of the above at any time after the day the company made the application for the voluntary strike-off. This obligation continues until the dissolution of the company or the withdrawal of the application.