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Understanding the Striking Off Process

Striking off, or dissolving a company, is the process by which a limited company is removed from the Companies House register, ceasing its legal existence.

This process can be voluntary, initiated by the company’s directors, or compulsory, initiated by the Registrar of Companies due to non-compliance with legal obligations.

What is the Striking Off Process for a Limited Company?

Eligibility for Voluntary Striking Off

Before applying for voluntary striking off, ensure your company meets the following criteria:

  • No trading activities: The company must not have traded or sold any stock in the last three months.
  • No legal proceedings: The company must not be involved in any ongoing legal proceedings.
  • No name changes: The company must not have changed its name in the last three months.
  • No ongoing business: The company must not have any agreements or contracts that still need to be fulfilled.
  • No unsettled debts: The company should have no outstanding debts or liabilities.

Steps to Apply for Voluntary Striking Off

  • Board Resolution: Hold a board meeting to pass a resolution for striking off the company.
  • DS01 Form: Complete and submit the DS01 form to Companies House.
  • Notification: Inform all interested parties, including creditors, employees, shareholders, and HM Revenue and Customs (HMRC), within seven days of submitting the DS01 form.
  • Gazette Notice: Once the form is accepted, a notice will be published in the Gazette, giving interested parties an opportunity to object.
  • Striking Off: If there are no objections within two months, the company will be struck off the register, and a second notice will be published in the Gazette confirming the dissolution.

Implications of Striking Off

  • Cease Operations: The company ceases to exist as a legal entity, and all business operations must stop.
  • Asset Transfer: Any remaining assets of the company will become the property of the Crown (bona vacantia).
  • Liability: Directors and shareholders may become personally liable for any outstanding debts if the striking off process is not handled correctly.

Alternatives to Striking Off

Seeking Professional Advice

It’s essential to seek professional advice before proceeding with the striking off process to ensure compliance with all legal requirements and to explore all available options.

For personalised assistance, contact Business Helpline’s expert advisors to guide you through the process and help you make informed decisions.

For more detailed information on striking off a company, visit Business Helpline’s Company Strike Off page.

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    Andy Slinger

    Andy is Head of Marketing for Business Helpline with a wealth of experience Marketing in the financial sector. He has a passion for helping business owners struggling with debts.

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