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How to close down a company by striking off

How to close down a company by striking off | Accountants in Mongleath

How to close down a company by striking off

Topic: How to close down a company by striking off

There are a limited range of circumstances when a company can request to be removed from the register (known as being struck off). For example, a voluntary strike off can be requested by a dormant or non-trading company.

A limited company can be closed down by getting it ‘struck off’ the Companies Register, but only if it:

  • hasn’t traded or sold off any stock in the last 3 months. For example, a company in business to sell apples could not continue selling apples during that 3 month period but it could sell the truck once used to deliver the apples or the warehouse where they were stored,
  • hasn’t changed names in the last 3 months’
  • isn’t threatened with liquidation,
  • has no agreements with creditors, e.g. a Company Voluntary Arrangement (CVA).

If the company does not meet these conditions, then the company will need to be liquidated (also known as a ‘winding up’).

Before applying for a strike off, the company must be legally closed down. This involves:

  • announcing plans to interested parties and HMRC
  • making sure employees are treated according to the rules
  • dealing with business assets and accounts.

For more information on close down a company by striking off, Book a Free Consultation

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