Cash back from Treasury after LTD company disolved?

[bit stuck]

I have looged into my business account to withdraw the remaining funds and they were not there. Having spoken to the bank customer service department they state as the business was dissolved in December all remaining funds have been transferred to the Treasury Solicitor on 13th December 2012. The amount concerned is £11,279.37, I was not aware that I had to withdraw the funds by a certain date or funds would be taken from my bank account without my knowledge and transferred to the treasury.

Have I lost this money or will I be able to claim it back from the Treasury?

[Jessica@WhiteFieldTax]

Ouch.

You can get it back, but it will incur costs:

Home > Bona Vacantia

Dissolved Company Guidelines > Companies > Bona Vacantia

(BVC2) Discretionary Grants where the Dissolved Company can be restored > Dissolved Company Guidelines > Bona Vacantia

The maximum they will repay this way is £3,000, so you will need to go down the more complex route of having the company restored:

Guidance - strike off, dissolution and restoration (GP4)

You will almost certainly need specialist assistance - try googling "company restoration"

[tractor]

Sticky

ISTR a number of issues similar to this have been raised in the last year or so.

This is an expensive mistake to make when closing a limited and is easily preventable as long as you know what the timeline of events are. Yes it's all available information but it seems that some of it is like Rumsfeld's 'unknown unkowns'

Perhaps we should make a sticky!

[cojak]

If we made all this stuff a sticky there'd be no room for the rest.

How can people think that the business bank account is still valid if the business itself no longer exists?? Personally I would just call it a stupidity tax and have done with it.

[cojak]

If we made all this stuff a sticky there'd be no room for the rest.

How can people think that the business bank account is still valid if the business itself no longer exists?? Personally I would just call it a stupidity tax and have done with it.

PS.
I may consider creating a sticky listing obvious 101's that non-business contractors need to consider. (Or someone can do and I'll stick it).

[northernladuk]

If we made all this stuff a sticky there'd be no room for the rest.

How can people think that the business bank account is still valid if the business itself no longer exists?? Personally I would just call it a stupidity tax and have done with it.

Couldn't agree more. A good lesson on the absolute fundamentals of running a business.

[bit stuck]

Cash back from Treasury after LTD company disolved?

Thanks for replying to the thread ( even those who think I’m a bit of an idiot) and yes I now feel a bit of a fool, I just expected by accountancy company to have told me, If I had known then I wouldn’t have let the funds sit there.
Do you recommend I go to a specialist company to get this resolved and what will it cost?
Thanks

[Jessica@WhiteFieldTax]

Well, as I said, look at google.

On top of the legal / formation agents fees you would have accountants costs in getting filings up to date, I would say allow yourself £1,000 to resolve the problem.

I'm shooting a bit from the hip with this, as its not every day stuff and there are a lot of ifs and buts.

If your accountant didn't warn you about this, then you may have a case for negligence and getting them to meet some of the costs.

However, the bottom line is you are going to have to drive this and sort it out. With respect, questions here can only attract very general answers.

[Wanderer]

PS.
I may consider creating a sticky listing obvious 101's that non-business contractors need to consider. (Or someone can do and I'll stick it).

Did one..... It's in the Welcome / FAQs forum though.