Companies House Striking You Off

[Waldorf]

I think I read that the Government, are to spend £900m chasing cheats, so watch out, I think they have realised that there is much more lost by tax cheats rather than benefit cheats, although I am in favour of chasing them all, I pay my taxes so why should anyone else be exempt?

[Wanderer]

Note the bit about all company assets becoming the property of the crown.

You shouldn't have told him that!

What happens is that Companies House "move to strike" your company from the register and the HMRC object to it until you have filed your final company accounts, paid out the salary, dividends and of course taxes. HMRC will then remove their objection to your company being struck and it will be dissolved.

[SallyPlanIT]

One little snag, all company bank accounts are frozen

AND the money becomes the property of the Crown. It is possible to re-instate a company but it requires legal help and can be very costly.

[Robot]

Someone mentioned this last night -

Apparently if you have a company which is flush with cash the best way to get the money out is to fail to submit an annual return and then wait for companies house to strike the company off the register

This means that you will be able to walk away with the money (and not even pay) 10% entreprenuers scheme

Is that definitely the case?

Notes

1) CH send HMR&C notes on companies that have submitted a DS01.

2) HMR&C will object to the company being struck off, untill all accounts and returns have been submitted, and of course all company taxes have been paid.

3) HMR&C have change their procedures, you cannot apply for a capital distribution until all accounts and returns have been submitted.

Robot

[Old Greg]

Ignore the other posters - they are just bitter because they lack your business acumen. For an up front fee of £100, I can ensure that the process you outline is properly followed through.