Company Law Update – Voluntary strike off process

Where a company is no longer needed, its directors can apply to the Registrar of Companies for the company to be struck off the register and dissolved. This is quite common where a company is dormant and has no assets and/or liabilities and currently takes around four months to complete.

However, from 10 October 2015, the time period for the dissolution of a company by a voluntary strike off application will be shorter because the Registrar will be able to strike a company off two months after notice of the strike off is published by the Registrar in the Gazette, rather than the current three months.

This will allow companies to strike off companies in their group which are no longer needed more quickly, with the process taking around three months.

The Corporate Commercial department at Slater Heelis LLP can advise you on the voluntary strike off procedure (and alternative methods of eliminating redundant subsidiaries) and prepare the necessary documentation.