Understanding the Strike-Off Process: What It Means for Your Business
When a company is struck off, it ceases to exist legally. For directors, this can cause significant complications, from frozen assets to unresolved liabilities. Understanding the process is essential to taking the right steps forward.
Why Companies Are Struck Off
- Failure to File Accounts or Confirmation Statements:
- Companies House sees non-compliance as inactivity.
- Prolonged Dormancy: Dormant companies may be assumed inactive and dissolved.
- Voluntary Strike-Offs: Directors initiate dissolution
Consequences of Strike-Off
- Loss of Assets: Company assets, including bank funds, transfer to the Crown under bona vacantia.
- Operational Shutdown: All business activities must cease.
- Outstanding Obligations: Tax liabilities and penalties remain unresolved.
How Regeneris Partners Restores Your Company
- Review the reasons for strike-off and assess restoration eligibility.
- File overdue accounts and confirmation statements.
- Liaise with Companies House to complete the restoration process.
- Help reclaim any assets transferred to the Crown.
Take Action Today - do title, post summary, post slug, google title and googe description