Company Dissolution

Did you form a limited company that didn't exactly turn out as you hoped? Or are you looking for a new challenge? Let St Matthew close down or wind up your limited company activities.

Fee: £450

 

Closing down limited company operations?

If your company is not active or it is not the right tool for your trading operations or business activities then you have two options. These are: Notification to Companies House of Dormant status OR Limited Company cessation of business. It is advisable to seriously consider this decision.

If you choose Dormant status you are still legally obliged to inform Companies House of your decision.  It will also mean that you still have to submit an annual return and Dormant Accounts in England.  That is why we recommend applications for Dormant status only if there is a likelihood in the future that you may have need  to revive company operations. Other reasons for dormant status include investment and asset issues, or issues arising from company name retention.

If you do choose the Dormant status option, we can help with all aspects. Please contact us.

The alternative to the Dormant status option is closing (cessation) or liquidation of your Limited company activities.  With this option you will draw a final line under your limited company operations.

Limited Company cessation/liquidation. The way it works.

If you would you like to close or liquidate your Limited company here is our advice

  • Cease all business operations for at least 3 months. This means you cannot submit any invoices or pay any bills.  Additionally, transactions on your company bank account(s) are no longer allowed. 
  • Within this 3month period, name changes are also not permissible. 
  • Ensure you submit your company returns and other correspondence to Companies House in time, as they cannot be overdue.  But what do I do if annual returns are already overdue?  You can just close the company if you submit the annual returns, but you will probably need to pay penalties for the delay.  If your company has been active in the last 12 months, the submitting of the carry over of the balance sheet will also be needed.  If there has been no company activity for over 12 months, it is enough to submit the dormant accounts.
  • Also make sure that the annual report is submitted in time, as this cannot be delayed.  If the annual returns are already late, you will need to pay all penalties before the closing of the company.
  • You will also need to draft and present the shareholder resolutions to liquidate the company. It is important, that the resolution is signed by the director, the secretary and the shareholders.
  • For the liquidation you will have to pay a fee, which is payable via Cheque.

As you can see, company liquidation or cessation is both legally complex and administration intensive. That is why we would like to offer you our support and to take over your workload.

We will complete all necessary steps for you, and will submit your annual return and your company’s transactions to Companies House.  We also will create a shareholders resolution, which will only need signatures by the director, secretary and shareholders.  As payment via cheque is no longer common, we have found a solution for you; the fee is already included in our charge.  We will  then submit all the items to Companies House.

When a client has finid It is, at times, simply tiresome to concentrate ones attention on meeting the demands for liquidation.

You can save time and stress if you choose St Matthew for the  cessation or liquidation of your limited  company. We guarantee a smooth process and will make it easy for you to finally draw a line under your limited company operations.

What we will need from you

  • All company transactions (can be created by us if needed).
  • All tax declarations not already submitted.
  • Bank confirmation that all company accounts are now closed.
  • Account statements which show how long the company has been inactive.
  • For companies with a subsidiary outside of the UK:  A clearance certificate which shows that all taxes have been paid outside from the UK.
  • Signed 64-8 form, that we can re-present for you at the UK authority (if necessary).

Processing time

Anticipate a processing time of up to 3 months. Please keep in mind that we will start to work for you only after we have received your payments and documents.

Fee

The fee for the liquidation of your Limited is £450.  This is payable in advance.

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