There are a number of reasons why a company may want to apply to have their name struck off the register at Companies House. It may be that the only product of the business no longer has a marketplace, or the owners of the company may be retiring with no one to take over the company.
A company can apply to be struck off Companies House register if it has re-paid all its business or trading debts from the last three months. A company won’t be eligible to apply if, during the last quarter it has traded or carried on the business, changed the business name or sold property that was sold whilst trading. For instance, if a furniture company wanted to be struck off the register, it could sell the machine that was used to manufacture the furniture yet not the actual furniture, which would have been sold.
A company can’t be struck off the Companies House register if insolvency proceedings are in place, like liquidation. If arrangements are in place between the business and members or creditors, the company can’t be struck off. Applying to be struck off the register when it is not eligible is an offence which could result in a fine of £5000 if convicted in a magistrates court, or the fine may be unlimited if a jury carries out the conviction.
Once all relevant criteria are satisfied, a form DS01 must be completed and submitted to Companies House with the appropriate fee.
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