Close your company fast
Dissolution (also known as ‘striking off’) is not a formal insolvency procedure. It can be requested under Section 1003 of the Companies Act 2006. Dissolution is infrequently used and only permitted under certain specific circumstances. Creditors must be notified of the intention of dissolution and can reject the application if they see fit. You are required to complete and submit the DS01 application form and pay the £10 filing fee.
Dissolution is not an alternative to liquidation, any interested parties such as shareholders and creditors seeking to revive the company can be investigated 20 years following dissolution . In addition, dissolution does not terminate a company’s existing contractual arrangements, the directors remain potentially liable should the company be restored to the register in the 20 years following.