How do you dissolve a private limited company?
Introduction
If you have a private company and it is not trading you should be aware that the simplest and least expensive method of closing it down is to apply for it to be struck off the register of companies.
This is quite a common situation that usually arises when directors of the company want to retire or when the owner/ sole director wishes to return to PAYE or self employed status . If you have a limited company that is insolvent or is likely to be insolvent you should not apply.
If you would like your company to be struck off the register it is of the utmost importance that you must check with people the mainstakeholders of the company such as its creditors, employees or investors.
Procedure for dissolution
The correct procedure to disolve a company is to fill out and return form 652a to Companies House along with a small fee.
Copies of the form asking for dissolution must be given to the following groups within 10 days of the application being submitted: members, creditors, employees, managers or trustees, and directors who have not signed the form.
If your company is VAT-registered then you should inform the local VAT office
The registrar at Companies House will post a notice in The London Gazette notifying the public about the proposal and inviting objections - if none are forwarded, the company will be struck off.
The London Gazette contains a wide range of office notices including State, Parliamentary and Ecclesiastical notices, Transport and Planning notices as well as Corporate and Personal Insolvency notices to name a few.
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]