Company dissolution (or company strike off) is basically one of the means of formally shutting down a company and eliminating its record from the Companies Register.
It is possible to dissolve a company either compulsorily or voluntarily. Even though in this article, we will primarily focus on compulsory dissolution, we will also be discussing voluntary strike-off.
Companies House issues a unique registration number during the incorporation of a new firm.
Each company that operates in the United Kingdom receives a registration number that plays a key role in identifying a company as well as confirming its position as a legally-established entity.
It is very easy and straight forward to do a company check on an LLP or any UK company. Before you’re able to run a business, it is necessary to register at Companies House besides filing some information with regard to its finances and operations.
During a board meeting, it is necessary for a limited firm to keep board minutes. Board minutes make sure the company maintains a written record of the undertakings of each meeting, which includes board resolutions and motions. The written resolutions of board directors and board minutes need to be kept for a minimum of ten years, however, it is wise to retain the given documents while the company remains operational.
You can use the internet or postal service to file a confirmation statement for your company.
Nonetheless, the online method is much simpler, faster, and secure compared to the post. Besides, it only costs you £13.00, compared to the cost of around £40 when sending it by post of around £40.00. Using the post also takes far longer.
It is important for a business to register for VAT provided that during the previous year their ‘taxable supplies’ (typically based on the turnover and not the profits) have surpassed the threshold for VAT. This is applicable to all businesses in the United Kingdom, no matter whether you’re working as a limited partnership, company, or sole trader.