How to transfer funds?

I got paid via company back account after the company was dissolved by companies house

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Me and my husband are directors of a company which we registered in Nov 2014. We didn't really trade much since registering it but in Nov & Dec 2016 I did some work for a client asked them to make payments to company bank a/c in hope to start trading via this opportunity. At this time we didn't know that companies house had already dissolved it back in May 2016.  Now I want to take that payment out of the account but I have never done this before, i.e. pay myself from a company account. Can I just transfer the money in my personal account since the company no longer exists?

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RLI
By lionofludesch
07th Jan 2017 16:44

It depends whether the bank have noticed that Companies House have struck off the company.

Was this a company sale or was it your own money ? Your post doesn't make it clear. You say "I got paid" which implies it was work you did as a self employed person. If so, why did you have it paid into the company's account?

Chances are the Queen now owns this money.

Why did you not respond to the warning letters Companies House sent you?

Thanks (1)
By Tim Vane
07th Jan 2017 19:28

No, you can't take the money. Since the company no longer exists you no longer own its assets, you are no longer its directors, and the money in the bank belongs to The Crown. So taking the cash is like making swan soup.

Google the term "bona vacantia". You may be able to pay to have the Company re-formed in order to extract the money, but the time and effort may outweigh the value of the cash.

Thanks (0)
Replying to Tim Vane:
RLI
By lionofludesch
07th Jan 2017 20:52

Tim Vane wrote:
Since the company no longer exists you no longer own its assets....

Controversial.

Surely the director/shareholders never owned the assets.

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avatar
By 356B
07th Jan 2017 20:04

So taking the cash is like making swan soup.??????????
First catch your swan.
Pluck, clean, debone and immerse in boiling water for 30 minutes.

Thanks (0)
By johngroganjga
07th Jan 2017 22:40

Are you sure your client's money has reached the intended account? You say you asked client to make payment there, but you don't mention whether they successfully did so. There may be some doubt as to whether they did as the account should have been closed by the bank.

If the bank didn't close the account, and your client did in fact successfully transfer money into it, there is no time me to lose. Withdraw the money as soon as you can before the bank realise their error and close the account.

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