Dissolution
Dissolution
Dissolution is the process of voluntarily closing a company that is no longer trading and has no debts. It is a straightforward procedure used to strike off a company from the Companies House register, typically for businesses that are dormant or no longer needed.
When to Consider Dissolution:
How RTI Can Assist:
RTI provides expert guidance throughout the dissolution process, ensuring all legal requirements are met and the company is properly closed. We’ll help you submit the necessary documentation to Companies House and ensure that any remaining assets are dealt with correctly.
FAQ
I’ve taken a new job. Will my employer be contacted?
No, there’s no requirement to contact your new employer during the dissolution or liquidation process.
Why can’t I just leave my company dormant and allow it to shut down?
If a company is left dormant, the insolvency service may investigate the director’s conduct, potentially leading to personal liability or bans from directorship.
Dissolution is typically used for solvent companies, whereas Liquidation is necessary when the company has debts and is insolvent. If your company has outstanding liabilities, a Creditors Voluntary Liquidation (CVL) might be the more appropriate option.
Pages related to Company Liquidation
CVA Company Voluntary Arrangement
Creditors Voluntary liquidation (CVL)