How do you dissolve a company?

How do you dissolve a company?

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Hi,

A new area for us - company dissolution.

How do we dissolve a company?

Is it worth getting a specialist agent to do it - and how much should it cost us?

Thanks

Gurpreet

Replies (2)

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By Monsoon
18th Oct 2011 16:32

DS01

Assuming there are no assets or liabilities, just file form DS01 with a cheque for a tenner.

If there are assets and liabilities, these ought to be dealt with first.

If the company is insolvent, you may want to speak to an insolvency practitioner, but you are under no obligation to use one.

Thanks (0)
Teignmouth
By Paul Scholes
18th Oct 2011 19:10

If assets or liabilities

You can still follow DS01 strike off but if there are net assets (which go to the shareholders) you are best to clear it with HMRC first, there's a simple letter under ESC C16 that has to go to them. 

If net liabilities and they are due to the director shareholders then no problem you can apply for strike off.  If however there are other creditors, these should be settled first.  If they can't be settled then, if you go for DS01, make sure they are sent a copy of the form.  Beware though, they can object to Companies house and get the strike off stopped.

Also need to make sure company's accounts are up to date and any profit since the last accounts has been declared to HMRC and tax paid.

That's a potted guide as there are other considerations, eg if share cap is >£4K, so there's guidance on Companies House website & on the form itself.

If it is not simple and you have to go for an IP be prepared to pay £3K minimum.

 

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