Do I need Companies House's permission to liquidate my company?

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Heya, I am trying to liquidate my company. I know you need to get permission from Companies House to do a lot of things, so I need to know: do I need their permission to liquidate my company, too? Many thanks

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You need to inform Companies House if you want to liquidate your company. If your company is solvent (can pay its debts), you can start a members voluntary liquidation but it is easier and cheaper to apply to Companies House to have your company struck off the register.

There are six steps to liquidating a company using the members’ voluntary liquidation process:

  1. Companies in England and Wales - Download a Declaration of solvency (form 4.70); Companies in Scotland - Ask the Accountant in Bankruptcy for form 4.70 (Scot).
  2. Complete the declaration and get it signed by a majority of the directors.
  3. Hold a general meeting of the company shareholders at least 5 weeks later to pass a resolution for voluntary winding up of the company.
  4. Advertise the members’ resolution in The Gazette.
  5. Appoint a liquidator (insolvency practitioner) to take charge of the winding up process.
  6. File form 4.70 with Companies House or the Accountant in Bankruptcy within 15 days of the members’ resolution being passed.

If your company is insolvent (unable to pay its debts), you will need to use the creditors voluntary liquidation process instead. To liquidate your company this way, you must:

  1. Hold a general meeting of the shareholders to pass a winding up resolution
  2. Appoint a liquidator to take charge of liquidating the company
  3. Send the shareholders’ resolution to Companies House within 15 days of being passed.
  4. Advertise the resolution in The Gazette.

To find out more about the different ways you can close your limited company, please click here.

a year ago
 

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