Liquidating a limited company
The Registrar of Companies must then advertise her intention to strike off the company and a month after this advertisement the company will be struck off and no longer exist.It is important to note that a company that is struck off, whether voluntarily or involuntarily ceases to exist as a legal entity.They consistently give me invaluable advice and guidance and are always at the end of the phone if I have a quick query.The depth of knowledge that they have is reassuring.
Other areas being impacted include schemes of capital reduction and even certain situations where a company buys back shares from a shareholder.
The striking off of a company from the Register of Companies can be voluntary or involuntary.
There are two forms of company strike off involving striking the company off the Register of Companies at the Companies Registration Office (CRO)-voluntary and involuntary. Section 311 of the Companies Act 1963 allows the Registrar of Companies to remove companies from the Registrar as part of an administrative voluntary strike off scheme operated by the Companies Registration Office (CRO).
If you believe you may be impacted then contact us urgently.
Ongoing the new legislation could introduce a possible tax trap for the unwary.