Company Closure

There may be occasions when the directors or shareholders decide to close down the company in a process called company closure (also referred to as winding the company up or striking it off from the Companies House register).

There could be various reasons for this decision. Perhaps it was simply not the right time to begin trading, maybe the directors wish to retire or refocus their efforts elsewhere, or it may be time to finally close a dormant company down.

Whatever the reason, company closure can be a rather lengthy process. 121 Company Formation can help!

HOW IT WORKS:

  • Before we proceed with your company closure, you must be able to confirm that:
    • In the previous three months, the company has made no incoming or outgoing financial transactions, i.e. has not made any payments or received any income
    • The existing stock, goods, assets or Intellectual Property Rights (IPR) held by the company had not been sold immediately prior to the company closure application being filed
    • You have not filed an application to change the company’s name
    • The company is not involved in, and has not been threatened with, an insolvency or liquidation process (including reaching any agreement with its creditors under a Company Voluntary Arrangement (CVA))
       
  • Once these details have been confirmed and agreement has been reached by the majority of the directors to close the company, we will complete the appropriate CS01 form as supplied by Companies House and submit it on your behalf. Please note: the form will need to be signed by one of the directors of your company before it can be submitted
     
  • If your company is VAT registered, you will be required to file a final VAT return
     
  • If your company undertook any financial transactions within the last three months of trading then you will be required to file a final set of accounts as well as the appropriate tax return

PURCHASE THE COMPANY CLOSURE SERVICE

For just £49.99 purchase the company closure service through our website or email us at [email protected]

FREQUENTLY ASKED QUESTIONS

When the directors choose to close a company, they are doing so voluntarily and are responsible for the disposal of any assets whereas if a company is liquidated then all the company’s assets will be sold by the appointed liquidators in order to pay the company’s creditors.
From the submission of form CS01 to the company being dissolved will take approximately two to three months providing no objection is made to the company’s dissolution when the request for this is published in your local Gazette.

After two months have passed since the first notice was published in the Gazette, a second notice will be published that confirms the company has been dissolved.
A closed company can be restored following the issue of a court order.

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