You can close down your limited company by getting it ‘struck off’ the Companies Register, but only if it:
- is solvent
- has paid all of its debts
- hasn’t traded or sold off any stock in the last 3 months
- hasn’t changed names in the last 3 months
- isn’t threatened with liquidation
- has no agreements with creditors, eg a Company Voluntary Arrangement (CVA)
If your company doesn’t meet these conditions, you’ll have to voluntarily liquidate your company instead.
Before closing your company
When you apply to ‘strike off’ your company, you have certain responsibilities to wind up your business properly.