— Company Closure
Strike Off Your Company
The Simple Close-Down Option.
Striking off a company — also referred to as voluntary dissolution — removes it from the Companies House register. It is the lowest-cost and most straightforward way to formally close a limited company, and it is appropriate for companies that have stopped trading, have settled all their debts, and have no significant assets remaining.
The process involves submitting a DS01 form to Companies House. If no objections are received from HMRC, creditors, or other interested parties within two months of the application, the company is struck off the register and ceases to exist as a legal entity.
Strike off and dissolution are, in practice, the same process. The key distinction from liquidation is that no licensed IP is required and there is no formal creditor distribution — the company simply ceases to exist. This makes it faster and less expensive than any form of liquidation, but also makes it inappropriate for companies with outstanding debts or assets.
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— Strike of eligibilty
Eligibility
for Strike Off
Before applying for strike off, directors should confirm:
The company has not traded in the previous three months
All HMRC obligations are fully settled — Corporation Tax, VAT, PAYE, Self Assessment
All creditors have been paid in full
No outstanding legal proceedings or disputes
Company accounts are up to date and filed at Companies House
All company bank accounts are closed
Any remaining assets have been distributed to shareholders
If any of these conditions are not met, strike off is not the appropriate route. Attempting to strike off a company while it has outstanding HMRC liabilities or creditor debts is an offence under the Companies Act 2006 and can result in HMRC restoring the company to the register and pursuing the directors personally.
— Assets on dissolution
The Difference Between
Strike Off and Liquidation
Strike off is appropriate for companies with no debts and no meaningful assets. Liquidation — either CVL for insolvent companies or MVL for solvent ones — is appropriate where there are creditors to be paid or assets to be distributed in a tax-efficient manner. If your company has significant retained profits or cash, an MVL will almost always be more tax-efficient than striking off and distributing informally.
If you are unsure which route is right for your company, our free consultation will establish the correct approach in minutes.
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Don’t wait until options run out. Early action almost always leads to a
better outcome — whether that means rescuing your business or closing
it correctly.