Company Closure
What is Company Dissolution?
When the decision has been made that a company is no longer required, the company directors can apply to have the company ‘struck off’ from the company’s house register. This is also called ‘Voluntary Dissolution’.
How long does it take?
Once the initial application has been submitted it can take up to 3 months for full company dissolution. Once the form has been received by Companies House you will be notified of receipt, and a subsequent notification will be made once the company has been fully dissolved.
What to do?
You must inform the following when closing a ltd company:
Shareholders
Banks (account should be closed)
Suppliers
Employees
Directors (who are not required as signatories)
This must be done within 7 days of submission of the closure notice.