Company Dissolution Service
What is company dissolution?
Company dissolution is a quick and easy way of closing a company down. It involves the director(s) making a voluntary application to Companies House to strike off the company from the public register. Once the strike off application has been accepted, the company is usually dissolved within 2-3 months.
Why should I close my company?
There are several reasons to voluntarily strike off your company:
- The company is no longer required, or it has served its purpose
- To save on administration costs of running a company, e.g. preparing annual accounts
- Avoiding fines or prosecution due to late filings
- To reduce the liability of directors
How does this service work?
- Select ‘Buy Now,' enter the required details, checkout and pay
- You will receive your board resolution by email within 3 to 5 working hours - simply sign and store it for safekeeping
- The director(s) will receive an invitation by email from Companies House to electronically sign the dissolution application (known as the ‘DS01’) - simply sign and submit
- We will file the dissolution application at Companies House
- Once the application to dissolve has been accepted, we will inform you by email
- Within 2-3 months, Companies House will inform you by letter to your registered office when the company is dissolved
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Full Company
Secretary Service
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Frequently asked questions
How long does the company dissolution process take?
You will receive your resolution and DS01 form by email within 3-5 working hours. Once you have signed everything and Companies House has accepted the application, it will usually take 2-3 months for the process to be completed and your company to be dissolved.
When can a company not apply for voluntary dissolution?
A company is not permitted to apply for voluntary dissolution if it meets any of the following criteria:
- It has traded or sold stock in the last 3 months
- It has changed its name within the last 3 months
- It is the subject of legal proceedings against it
- It is in liquidation, or about to enter it
- It has entered into a creditors’ voluntary agreement (e.g. CVA)
Who do I need to inform when dissolving my company?
The director(s) of the company has an important legal responsibility to inform the ‘notifiable parties’ that an application to strike off has been made. ‘Notifiable parties’ include creditors, shareholders, employees, and other directors of the company who did not sign the dissolution application. This should be done within 7 days of the dissolution application being made.
Is 'strike off' and 'voluntary dissolution' the same thing?
No, strictly speaking, ‘dissolution’ and ‘strike off’ represent two distinct stages in the same overall process; however, they are commonly used to describe the same thing.
In reality, strike off refers to the motion to close a company, whereas dissolution represents the point at which the company is deemed to no longer exist. Companies House confirms a dissolution by publishing a final notice in The Gazette.
Who makes the decision to dissolve a company?
The decision to voluntarily dissolve a company is made by the company’s director(s). The decision is made either at a board meeting or by signing a board resolution. The power of the directors to dissolve the company is provided by sections 1003 to 1011 of the Companies Act 2006.
What are the tax implications of company dissolution?
In general terms, all tax that is owed must be paid before the application to strike off the company is submitted. Failure to do so may lead to HMRC objecting to the dissolution, causing the application to be suspended until outstanding payments are settled.
When should I close my company’s business bank account?
You should close your business bank account before making an application to dissolve the company. When a company dissolves, any bank accounts still open will be frozen, and the money will be passed to the Crown (the government).
Do I still need my registered office and service address?
Companies going through the dissolution process are still required to maintain a registered office as well as a service address for each director. If you purchase our Company Dissolution Service, we will extend your Rapid Formations statutory address services by three months at no extra charge, to cover the dissolution period.
If I change my mind, can I restore a company after dissolution?
Yes, a company can be restored if it has been voluntarily dissolved by the directors. However, you will need to go through the ‘court restoration’ procedure, which can be a time-consuming and expensive process.
If you have submitted a dissolution application which has been accepted by Companies House, but the company has not yet been dissolved, you can withdraw the application by filing a ‘DS02’. If you need help submitting the DS02 form, call our Company Secretarial Team on 0203 984 5385 or email us at cosec@rapidformations.co.uk
Are there any other charges or hidden fees?
No. All fees relating to the company dissolution application are included in the price of this service.
“As a small company, it can be tough to get noticed. That’s why I’m chuffed to bits I now have my very own registered office in the heart of Glasgow.”
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