Having your Company struck off by Companies House can be a very stressful period for many business owners. If you are in this situation, chances are this process has had a negative impact on your business.
In this article, we will discuss why Companies House might dissolve your Company and remove it from the Companies House register and what you can do to restore your Company into an active trading Company.
WATCH THE VIDEO TUTORIAL : UK COMPANY RESTORATION DISSOLVED COMPANIES HOUSE
Why did Companies House dissolve my Company?
- Failure To File Annual Accounts – one of your key responsibilities as a UK Company Director includes filing annual accounts for your UK Company. Failing to file your Company accounts on a timely basis is a common reason why Company House may have dissolved your Company.
- Failure To File Confirmation Statements – another reason why your Company may have been dissolved by Companies House is due to not submitting your confirmation statements.
- Outstanding Penalties & Fees – in some situations, some business owners may have outstanding penalties and fees which have not been paid and this could result in the removal of your Company by Companies House.
It is important to remember that before Companies House removes your Company from its register, you will be notified on several occasions. In most cases, you will receive written correspondence prior to the closure of your Company by Companies House.
In some instances, some Entrepreneurs fail to update their registered office address, which means they are unable to receive the correspondence from Companies House prior to the closure of their Company.
This means it is crucial that your registered business address is up to date, this is very important especially if you are a foreign non resident uk company director.
How do I restore my UK Limited Company?
In order to restore your UK Company to an actively trading company, one of the routes available is called Administrative Restoration. This is applicable to Companies that have been struck off by Companies House in the last 6 years.
As part of this process, you will be required to do a minimum of the following;
- Submit your annual accounts
- Submit your confirmation statements
What if I voluntarily dissolved my Company?
If you previously dissolved your Company and decided to restore it to an actively trading Company, then this process would include making an application for a Court Order in order to restore the Company.
Can I use my Business Bank Accounts once my Company is Closed?
Following the closure of your Company by Companies House, any business bank accounts that was linked to the Company’s name will usually be closed and access to the funds will be restricted.
However, upon the successful restoration of the Company, you will gain access to the business bank accounts.
Restoring a limited company can be a complex process so if you are looking to restore your UK Company, leave a comment below or book a call with one of our experts to discuss our Company Restoration services.
