The Company Strike Off Process: What Happens to Your Assets?

Описание: Chapters:
00:00 - Introduction
00:13 - Why Companies House initiates a strike off
00:46 - The First Gazette Notice explained
01:01 - How to stop the strike off process
01:27 - Warning: Losing assets to the Crown (Bona Vacantia)
01:38 - Restoring a struck-off company
02:01 - What happens if creditors object?
02:28 - When you might need to liquidate instead
02:58 - Need help? Contact us

What is a First Gazette Notice, and what happens if your limited company is struck off the register? In this video, Molly, a licensed insolvency practitioner at Parker Walsh, breaks down the strike off procedure and the risks involved.

Why have I received a notice? Directors have a duty to file annual accounts and confirmation statements . If these are missed, Companies House may assume you have stopped trading and begin the process to remove your company from the register.

Key topics covered in this video:

Losing Company Assets: If your company is struck off while holding cash or assets, they become property of the Crown (Bona Vacantia) . Retrieving them requires a costly court restoration process.

Stopping the Strike Off: If the business is active, you must file your outstanding accounts immediately to stop the process.

Creditor Objections: If you owe money, creditors like HMRC or your bank can object to the strike off within two months of the notice.

What if HMRC Objects? If a creditor blocks the strike off, the process pauses, and you may need to speak to an insolvency practitioner about liquidating the company instead.

Need advice? If you are facing a compulsory strike off or HMRC has objected to your application, please get in touch with us for help.

Visit our website: https://www.parkerwalsh.co.uk

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