DISSOLUTION AND RENEWAL OF UK COMPANY
The Company can be dissolved by decision of owners or by Registrar by reason of late filing accounts.
In the first case if the company had trading activity it is necessary to organize different meetings, publish notifications with indication of terms for give the shareholder opportunity and other subjects to present claims to the company, to prepare liquidation balance. For this purpose the “liquidator” shall be appointed who is selected among certified auditors.
If the company was dormant subject to paying all duties and filing all accounts it is possible to inform the appropriate registrar that the company has no assets and no liabilities that there were no activity and that directors and sharers resolved to exclude the company from register. As a result the notice about this fact will be published in corresponding local business editions and after determined time the company will be excluded from Register.
In the second case the initiator of liquidation shall be Registrar who makes decision on exclusion of company from Register after special investigation.
Renewal of company in Register is realized exceptionally under the court decision. The director of company formalizes affidavit that shall be submitted to court by attorney. If Inland Revenue or Companies House have no objections and after payment of all penalties, the company can be renewed. The process of renewal lasts from four months till one year.