What does it mean to strike off a company?
Striking off (also referred to as ‘dissolution’) is when a limited company is removed from the Companies House register. A director can strike off their company on the pre-conditions that:
- The company hasn’t traded or sold off stock in the last 3 months
- The company hasn’t changed names in the last 3 months
- The company isn’t threatened with liquidation and has no agreements in place with creditors, such as a Company Voluntary Arrangement (CVA).
Strike off is a useful solution for closing a company if it has served its purpose, is no longer active, and unlikely to be required in the future (often if the director chooses to retire.)
You can only strike off a company if it is solvent.
