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: -
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:
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.
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.