Never Had This before

Never Had This before

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I have a new client just come and see me, he had a company which he traded for a few years made decent money paid all the taxes and it had no debts etc. He then took a Directorship on PAYE. He left the company dormant in case he was to need it in the future. He also left £4000 in its current account. He then went to Dubai to work for a few years, whilst he was away he forgot to file any paperwork and Companies House struck the company and sent the money to the treasury. Can he ever get this money back? I think the money ends up with Bona Vacatia. As I am a keen fan of Heir Hunters I wondered if it was possible to liberate the cash. Its not the end of the world for him but if I could do something to get it back it would start the appointment off on a good footing.

Replies (18)

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Image is of a pin up style woman in a red dress with some of her skirt caught in the filing cabinet. She looks surprised.
By Monsoon
13th Jan 2014 11:52

Yes you can

I think the process is called Administrative Restoration. 

http://www.companieshouse.gov.uk/infoAndGuide/faq/strikingOff.shtml

That's about all I know. Good luck!

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By johngroganjga
13th Jan 2014 11:54

You will need to restore the company to the register before you can get the money back.  Look first at the Administrative Restoration procedure explained on the Companies House website. 

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Glenn Martin
By Glenn Martin
13th Jan 2014 12:53

Thanks for that.

£100 fee and a form to fill in, will be worthwhile giving it a go for him.

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By tonyh
13th Jan 2014 13:04

A bit more than a £100

You need to bring all the company's affairs up to date. If accounts are late you have to pay late filing fees. Accounts are not due whilst company was off register but there maybe accounts due before it was removed. Plus there can be additional fees payable if the company's last registered office was in the county of Lancashire. You also have to file and pay the annual return fees.

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By bernard michael
13th Jan 2014 15:16

I've never heard of extra fees for a Lancashire RO Why??

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Glenn Martin
By Glenn Martin
13th Jan 2014 16:53

I must admit

the extra fees in Lancashire had me puzzled also.

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Replying to atleastisoundknowledgable...:
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By GW
13th Jan 2014 17:07

Not just Lancashire

There is a fee for a bona vacantia waiver from the Treasury solicitor, the location just determines who issues and charges for the waiver.

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Replying to atleastisoundknowledgable...:
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By Andrew Nield
15th Jan 2014 12:30

Don't forget Cornwall

It's a similar process for the Duchy of Cornwall as well.  There is a little bit more info here: 

https://www.gov.uk/apply-for-a-waiver-letter-wa1

It's many miles from me but it looks like The Duchy of Lancaster includes some areas outside of Lancashire (Boundry changes?)

 

 

 

 

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By bernard michael
13th Jan 2014 17:04

Thanks for the info I never knew that

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Glenn Martin
By Glenn Martin
13th Jan 2014 17:05

If thats the case

when I am ever down that way I will make sure I stay to the east of Lancashire, a case of pass the Duchy upon the left hand side.

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Replying to Slim Freddie:
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By shoshana
15th Jan 2014 17:05

Priceless!

Glennzy, that made me laugh out load in my office on my own.

Absolute beauty and already contender for most humorous post of 2014.

 

Malcolm

Malcolm Greenbaum

Director, Greenbaum Training & Consultancy Limited

IFRS, US GAAP, UK GAAP, UK Tax and VAT

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Glenn Martin
By Glenn Martin
13th Jan 2014 17:22

I thought that

handing over the first Salmon of the season over to the Duke of Northumberland was bad, but these titled lads are all at it.

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By Whitnalls44
15th Jan 2014 12:51

Lancashire

Based ( I think) on the old boundaries - Merseyside for instance is included

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By n1ckylyon
15th Jan 2014 13:01

Not all Lost !

Just had something similar happen. Was directed by HMRC to www.bonavacantia.gov.uk the Treasury Solicitor may make a grant up to £3,000 without the need to reinstate.

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By lethsolutions
15th Jan 2014 13:17

Had success!

I have also recently restored a company for a client. His previous accountant had not submitted returns and accounts for 2 years. I think it was a case of they each thought the other was doing it!

We had to submit annual returns for each year, plus the annual accounts and contact the Treasury Solictor for a Bona Vacantia letter. And then the application fees need to be paid. 

If the company only had money in the bank account and no other assets other than that it is a quick process!

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By coolmanwithbeard
15th Jan 2014 14:04

It's just a paper trail

Agree with the others that it's just a paper trail really and getting all things lined up before applying to Co House - in reality you should check the costs carefully before starting notably CH fees and your own and whether it would be worthwhile if the company were no longer needed.

 

I am in south Cumbria and so in the Duchy of Lancaster and yes the fees are a little higher for the waiver letter.

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By aitch35
15th Jan 2014 16:40

Did one of these recently and took about two months but that included some delays from client!

Treasury solicitor fee £64

From submitting forms to Companies House to them restoring was 3 days.

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