Company Dissolution – Close Your Limited Company with Confidence
There may come a time when you decide to close your limited company – whether you’ve completed a business venture, are retiring, or moving on to something new. In such cases, it’s important to follow the proper procedure to dissolve your company legally and avoid future complications. At EVLAteam, we help you handle this process smoothly and correctly, ensuring full compliance with HMRC and Companies House requirements.
When Can You Dissolve a Limited Company?
You can apply to strike off your company if all of the following conditions are met:
The company hasn’t traded or carried out any business in the last three months
It hasn’t changed its name during that time
It’s not under threat of liquidation or facing insolvency proceedings
It has no outstanding agreements with creditors (such as repayment arrangements)
If your company doesn’t meet these conditions, a different closure route – such as a formal liquidation – may be required. We can advise you on the best option based on your circumstances.
Your Responsibilities Before Dissolution
Closing a company involves more than just submitting a form. There are several important steps you must take to ensure the closure is handled properly:
You must inform anyone who may be affected – including shareholders, creditors, employees, suppliers, and any directors who haven’t signed the dissolution application. It’s vital that all parties are aware and that there are no unresolved financial or legal obligations.
Before submitting the strike-off application, your company must file any outstanding tax returns and settle all tax liabilities. This includes Corporation Tax, VAT (if applicable), and payroll taxes.
You’ll also need to close any business bank accounts and ensure that all company assets are distributed appropriately.
Importantly, even after the company is dissolved, you’re required to retain the company’s financial and legal records for at least seven years. This ensures compliance in case of any future audits or legal inquiries.
How Long Does It Take?
Once the application is submitted and accepted, the entire dissolution process typically takes 2 to 3 months. During this time, Companies House will publish a notice in the Gazette, giving interested parties the opportunity to raise objections.
How EVLAteam Can Help
Our team offers a full Company Dissolution Service, taking care of all the necessary steps for you – from advising on your eligibility to submitting the DS01 form and informing relevant authorities. We’ll also help ensure all final filings and tax returns are submitted correctly and on time.
Closing a company can feel overwhelming, especially if you’re unsure about the legal or tax implications. With our expert support, you can rest assured that everything will be done properly and with minimal stress.
Thinking about closing your company?
Get in touch today and let us help you exit with clarity and confidence.