What is company dissolution (also known as 'strike off')?
The legal process to close your company and make sure everything is done in the eyes of the law. After strike off your company is noted as dissolved and removed from the register at Companies House.
My business has debts; will dissolution work?
Yes - our solution clears any debts your business has.
Can I dissolve a company with an outstanding Bounce Back Loan?
Yes, it’s possible to dissolve a company with a Bounce Back Loan; however, this process must be legal and done whilst complying with all statutory responsibilities. A Bounce Back Loan, from a legal perspective, is just like any other debt. The difference, however, is that a personal guarantee was not required as they were backed by the government.
How long does dissolving a company take?
It depends on how much work there is but with some companies everything is done in as little as 3 months.
How much will dissolving a company cost?
Our dissolution prices start from £250+vat for simple cases – the complex ones cost more but still considerably less than a liquidation.
What does a company dissolution mean for me as a director?
It means that you will no longer be a director of the dissolved company, and as long as it is done the right way you won't be liable for any debts either.
Will dissolving my company affect me personally?
No – as long as everything is done correctly. This is where we come in.
Can I be a director of another company after it is dissolved?
Yes. If you want to start again or become a director of another company, this is fine.
I’ve given a Personal Guarantee, do I still pay this?
Yes but we can help you deal with this.
What information will I need to provide?
To get started, just your name, contact details and how many people you owe money to. Once you’ve sent this through, we'll send you a short questionnaire so we can give you a full quote. This information will also help us with the dissolution process.
I’d like to start again with a similar name; can I do this?
Yes – but it must conform to the usual Companies House restrictions – we can help you with all this too!
Need to speak to someone about dissolving a company?
If your company is struggling with unmanageable debts, poor cash flow, or an uncertain future, you are not alone. We speak to company directors struggling with the same issues as you every single day, and we are here to give you the help and guidance you need.
Call our team for free, no-obligation advice today on 0800 975 0380 or book a free consultation
Related Articles
We're here for you.
As a dedicated team of Advisers and Consultants our aim is to help you fix the issues and solve the problems within your business.
Find out more →
