Are you planning to close your company? Striking off company might seem a daunting task, but with proper guidance, it can be done easily. In this ultimate guide to striking off company, we will provide you with all the information you need to know before, during, and after striking off your company. From understanding the meaning of striking off company to filing the application, we have got you covered.

Introduction
Striking off company is the process of removing the name of the company from the register of companies. It is an alternative to liquidation or administration and is a simpler and quicker process. Companies may choose to strike off for various reasons, such as the company is no longer in operation, or the shareholders no longer wish to continue with the company.

The process of striking off company can be complicated, and many factors need to be considered before the application is made. If you are planning to strike off your company, this guide will provide you with everything you need to know.

The Process of Striking Off Company
The process of striking off a company involves several steps. Here are the steps you need to follow to strike off your company:

Step 1: Informing the Directors and Shareholders
Before filing an application for striking off a company, it is important to inform the directors and shareholders of the company about the decision. The decision to strike off a company must be taken by a majority of the shareholders, and the directors must agree to it.

Step 2: Settle All Obligations
Before striking off a company, it is important to settle all the obligations, including paying off all debts and taxes. The company must also file all outstanding tax returns and accounts.

Step 3: Check Eligibility
The company must meet the eligibility criteria for striking off. The criteria include:

The company has not traded in the last three months.
The company has not changed its name in the last three months.
The company has not been involved in any legal proceedings in the last three months.

Step 4: Filing the Application
Once the company has met all the eligibility criteria, an application must be filed with the Companies House. The application must be made on Form DS01.

Step 5: Wait for the Confirmation
After filing the application, the Companies House will send a confirmation letter stating that the company has been struck off. This letter will also be published in the Gazette.

Advantages of Striking Off Company
Striking off a company has several advantages, including:

No More Obligations
Once a company is struck off, it no longer has any obligations, such as filing annual returns, accounts, or tax returns.

Saves Time and Money
Striking off a company is a quicker and cheaper alternative to liquidation or administration.

No Legal Proceedings
Once a company is struck off, it cannot be subject to any legal proceedings.

Disadvantages of Striking Off Company
Striking off a company also has some disadvantages, including:

No Protection
Once a company is struck off, the name becomes available for use by anyone. This means that the name can be used by someone else, which can create confusion.

No Comeback
Once a company is struck off, it cannot be restored to the register. If the company needs to be reinstated, a new company will need to be formed.

Liability Continues
The liability of the directors and shareholders of the company does not end with striking off. If any claims arise after striking off, the directors and shareholders will still be liable.