Why struck off companies register

There are two ways to strike off a company, voluntary or involuntary with voluntary being the most common method. Company directors who want a company struck off the register also known as a company being dissolved want to have a company marked down as non-existent and still retain full control of the business.

Dissolution is usually voluntary by the members shareholders if they have no further use for the company. Common examples of why a company would be voluntary struck off are as follows:. Involuntary strike off is less common and is usually due to compliance reasons.

If they miss this notice, they may not realise the company has been dissolved until the process is finished. Once the company has been dissolved, it may be much harder to recover debts. If a company that owes you money has filed to strike off, you can file to object to the strike off as soon as it happens by contacting Companies House.

It is also possible to object once a company has been removed from Companies House if it owed you money at the point of the strike off and you were not informed about the strike off. In this case, you must be able to prove that the debt exists. Filing accounts late and ultimately receiving a strike off notice can be a sign of financial difficulties.

This is a fairly common occurrence: companies hit with striking off notices in include publisher Buzzfeed UK and construction firm Hochtief. For example:. When a strike off is happening you need to know about it straight away, because if you leave it and the strike off goes ahead it will be difficult to recover any debts you are owed.

Red Flag Alert provides the following risk management features:. If you are worried about the financial health of one of your customers and want to see how Red Flag Alert can help, get in touch with Richard West at richard. Richard is an experienced SaaS leader, since joining Red Flag Alert in he has overseen a ten-fold increase in revenue. Need help? Call us on: You can apply to have a limited company struck off the Companies House Register under the following circumstances;.

Being struck off is not the same as being wound up or put into liquidation; it is rather a more cost-effective alternative. During the process, directors remain in full control of the business. Important: If your company has a bounce-back loan outstanding then you will not be able to strike off or dissolve the company.

The bank will be given notice of any strike off application and they will object as the onus is still on the bank to collect the debt and check that the loan has not been misused. Note: up until 20 years later, if HMRC think that the company has been struck off as a means of avoiding tax, the company will be reinstated. If a director decides they no longer have a use for the company then they can strike off the company.

Reasons for striking off the company in this sense may be due to:. This is when the need for a company to be struck off is from a third party. Usually Companies House are the third party, making the request due to non-compliance of filing accounts or annual statements. For administrative restoration, see Q To be eligible for administrative restoration, the company's name must have been struck off the Companies Register by the Registrar of Companies and the company must have been dissolved consequently.

A company which was dissolved by way of deregistration or winding up cannot apply for administrative restoration. For a dissolved local company, an application must be made within 20 years after the date of the dissolution. For a non-Hong Kong company, an application must be made within 6 years after the date of the striking off. The Registrar will usually require the production of the written authorizations of the members of the company for making the application.

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Deregistration, Striking Off and Winding Up. The detail of this page.