Company strike off is when a business is dissolved and struck off the Companies House Register.
This can occur either voluntarily or it may be enforced depending on the circumstances.
In order for the company to be the subject of a voluntary right off the following needs to be met:
- No trading should have taken place in the 3 months before strike off
- The company name should not have been changed in the 3 months before strike off
- There should be no insolvency proceedings pending or proposed
- No disposal of property, value or rights in the 3 months before strike off
Assuming that all of the above is in order an application is made by submitting Form DS01 available via the Companies House website. This should be signed by the sole director if only one, both if joint directors and by all or the majority of directors if more than 2. This should then be sent to Companies House.
It is important that a copy of the form is forwarded on to members, creditors, managers or trustees of any employee pension fund and any directors who have not signed he form. If any objections are received, then the strike of process can be suspended.
The process of striking off can take time. A Registrar will usually allow 3 months before the company is struck off the register and a notice placed on public records.