Company dissolution (also known as strike off) is the process of removing a company from the Companies House register so that it no longer legally exists. A company can apply for voluntary strike off if it has not traded or changed its name in the last 3 months, has no agreements with creditors (e.g. a CVA), and is not threatened with liquidation or other insolvency proceedings.
Your company can apply for voluntary dissolution (strike off) if it has not traded or changed its name in the last 3 months, has no outstanding agreements with creditors such as a Company Voluntary Arrangement (CVA), and is not in the process of being wound up or subject to any other insolvency procedure. Directors must ensure all final accounts and returns are up to date before applying.
Once a strike-off application is submitted to Companies House, they will publish a notice in the Gazette. If no objection is received, the company will be struck off the register not less than 2 months after the notice. The process typically takes around 3 months from application to dissolution.
Dissolution (strike off) is a simpler process for companies with no significant assets or liabilities and no ongoing trading. Liquidation is for companies that need to wind up their affairs, pay off creditors, and distribute assets. If your company has ceased trading and has little or no assets or debts, voluntary strike off is usually the appropriate route.
When a company is dissolved, any remaining assets pass to the Crown (Bona Vacantia). It is important to distribute or transfer assets before applying for strike off. If assets are discovered after dissolution, they can be recovered by restoring the company to the register, which involves an application to the court and can be costly.
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