Get
off for the first 3 months.
One-off company cessation accounts and basic company dissolution process for UK Limited Companies. Corporation tax return, final accounts and company closure process.
Our company dissolution service in the UK is the best. Contact us to learn more about how we can help.
Closing a company, also referred to as company dissolution, is the formal process of ending a business entity's legal existence. If you are public limited company, a private limited company, or a limited liability partnership (LLP), you can apply to close the company. It involves ceasing all trading activities, liquidating assets, paying off debts, and notifying relevant authorities about the closure.
The process of company dissolution in the UK involves formally closing down a limited company. Company dissolution is the quick and easy procedure in which company directors voluntarily apply to companies house to strike off the company from the Companies House register, marking the end of its legal status as a company. It involves ceasing all business activities, settling outstanding debts, and distributing any remaining assets among shareholders or creditors. Dissolution effectively brings an end to the legal existence of the company, freeing its directors from ongoing responsibilities. Once the strike-off application is accepted, the company gets dissolved within 2-3 months. To dissolve a company, it is necessary to follow the proper legal procedures, which includes notifying various parties such as HMRC and Companies House. This can be a stressful time for the director of the company, but with the help of a limited company accountant, the process can be made smoother.
Company dissolution is a voluntary process initiated by the company's directors, while liquidation can be voluntary liquidation or involuntary.
In dissolution, the company assets are distributed among its shareholders, whereas in liquidation, business assets are sold to settle outstanding debts.
Additionally, company dissolution typically occurs when a company is solvent, while liquidation is often used when a company is insolvent.
Making the decision to close your company is a significant step that requires careful consideration. Let's check the reasons why you might opt for the company closure:
To initiate the voluntary company dissolution process, directors pass a board resolution, for the formal approval of dissolution through the board meeting. The necessary forms and documentation must be submitted to Companies House. A final set of accounts should be prepared, along with completing a confirmation statement. It is important to notify all known creditors about the intent to dissolve the company. To officially start the process, a DS01 form needs to be filed with Companies House, signed by a majority of the directors and including a statement of solvency. This procedure ensures a smooth and legally compliant voluntary company dissolution.
Once all the eligibility criteria are met, we will start the company closure process.
Let GoForma be your trusted partner in this journey toward a smooth company closure. Book a free consultation today to initiate the company dissolution process and experience a hassle-free transition to a new chapter.
The dissolution process typically spans three to six months, but exact timelines may vary based on individual circumstances.
Tax implications may include capital gains tax or corporation tax on assets sold during the dissolution. It's essential to seek professional advice regarding tax matters.
It's advisable to close the business bank account before submitting the application to dissolve the company. After the company dissolution, if any bank accounts still open will be frozen, and the money will be passed to the Crown (the government).
During the dissolution process, within the 7 days, you need to inform employees, creditors, clients, shareholders and other directors of the company who did not sign the dissolution application.
Yes, it is possible to apply for company restoration but you require to go through court restoration process for the same. If the dissolution application is accepted by the companies house but the company is not dissolved yet, you can withdraw the application by filing the DS02 form.
No. All fees related to the company dissolution application are included in the price of this service.
Once your company has been dissolved, its name will be removed from the official register at Companies House. Any remaining assets will be distributed as per the dissolution process. You won't need to file annual accounts or other documents anymore. Creditors and shareholders will be notified, and any legal restrictions or obligations associated with the company will cease to exist.
Here's everything that's included in your package:
Support with managing a UK Limited Company.
Book a convenient time to talk to your accountant.
Talk to your accountant and manage your account with us through WhatsApp.
Get a 1-on-1 named accountant that you can book time with easily rather than a generic support team.
Get started online quickly through our self service dashboard and book time with your accountant easily.
Get clear insights on your income, expenses, tax efficient salary and dividends.
Help with reviewing and filing your end of year accounts and filing with Companies House.
Support with completing and filing your annual personal self assessment tax return.
Support with completing and filing your corporation tax return with HMRC.
Support with checking and filing your annual confirmation statement with Companies House.
Onboarding instantly with GoForma to complete personalised actions and get a walk through with your accountant whenever you're ready.
When you're ready to switch, just add your previous accountant's details and we'll take care of collecting all the data, documents and authorisations we need. We'll keep you updated as we switch your account across.
Get one free IR35 review worth £50.
FreeAgent accounting software license included (worth £300 a year).
Use the iOS and Android FreeAgent apps to add expenses, send invoices, check your account, time track projects or reconcile transactions.
Easily add and track expenses per project.
Automatically import and reconcile your bank transactions from any major bank using open banking.
AI detection to automatically reconcile and explain transactions based on previous explanations.
Get personalised insights based on your business type.
Quickly see a current snapshot of your trial balance, profit and loss, balance sheet and more.
Here are some of the additional services you can buy after you sign up:
Once you create your account online these are the steps that you'll need to compete in your dashboard.
Depending on your subscription, you'll have a few onboarding steps when you sign up that you'll need to complete to activate your account.
We'll need some details about your current address and contact information.
Let us know if you'd like us to email, WhatsApp or SMS you with updates.
Complete a digital verification process using your ID (passport or UK driving license) along with a liveness check
Upload a valid proof of address in the UK dated in the last 3 months to verify your identity. This can be a recent council tax bill or utility bill.
Book a welcome call with your new accountant so that they can help get you set up, answer specific questions and walk through what to expect with GoForma.
Add some basic personal tax details for payroll and self assessment filing.
If you already have a Limited Company, then you just need to search for the name and we'll extract all the details we need from Companies House and send you filing reminders.
If you have an accountant already, we need to send a professional clearance request so that we can collate all the key documents and data we need to operate as your accountants.
Let us know if you're already registered for VAT, want to register for VAT or if you're unsure about VAT registration.
We need a confirmation code from Companies House so that we can file your confirmation statement, end of year accounts and make any changes to your account like additional directors or registered office.
Depending on your package we'll need to ask HMRC for authorisation to manage your personal self assessment tax filing, VAT, corporation tax and PAYE.
Once you've completed our accountant switch form, we'll send a link to your accountant to upload all the documents we need and continue to follow up with them.
Add some basic details about your industry that we'll need to get your FreeAgent accounting software up and running. If you already have FreeAgent then you can add your details here.
Schedule some time with your accountant to walk through how to use FreeAgent.
One-off company cessation accounts and basic company dissolution process for UK Limited Companies. Corporation tax return, final accounts and company closure process.
*Prices quoted exclude VAT