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SAMPLE of the Guide
Dissolution Programme – Your Step by Step Guide
The Expert’s Complete Guide to Dissolving your Dormant Company
Thank you for downloading this Dissolution Programme – your easy to use guide to dissolving your dormant company.
Dissolution is suitable for dormant companies that are no longer trading and have no, or very little debt owed to creditors.
Many companies become dormant for various reasons and it’s important to close down an incorporated (Limited/Ltd) company in the correct manner using our tried and tested process contained in this programme.
This expert guide will take you, step by step, through the process required to close-down and dissolve your dormant company.
Please take time to read the guide carefully before you start and ensure you have understood the process.
© 2019 KSA Group Ltd and Keith Steven. Keith Steven is hereby identified as the author of the material in this programme in accordance with section 77 of the Copyright, Design and Patents Act 1988. No part of this programme may be reproduced stored in any retrieval system without the express permission of the copyright owner.
Thank you for buying our product, please remember it must not be copied or sold to any third party without our express written permission. To do so is a breach of UK copyright legislation and could lead to your criminal prosecution under the law.
Introduction to the Programme
Welcome to the KSA GROUP Dissolution – Guide – A Step by Step
We can help you to Save Time on Company Accounts, Filling in PSCs and Confirmation Statements.
This programme includes all you need to know to get a dormant and compliant company dissolved by Companies House.
As in all things in life there is no absolute guarantee that Companies House or the company’s creditors/ shareholders will agree to strike the company off the register, but this programme will help you prepare a quality application process, that stands a very high chance of being agreed if your company complies with the Rules of Dissolution under s1003 Companies Act 2006.
Please do note however, that if you and or your business have displayed a callous disregard to HMRC, very poor tax compliance and very poor Companies House reporting compliance, or haven’t filed accounts, then it is possible that even our best advice and guidance cannot help you dissolve the company.
We have set out the programme to be as user-friendly as possible, but please remember whenever you have questions you can email them to us for a quick answer. We will answer all questions during our office hours of 9 to 5pm, 5 days a week. This email support service is FREE.
KSA Group Ltd December 2019.
So, let’s get on with the programme!
Section 1: How Did You Get To Here?. 4
STEP BY STEP GUIDE START HERE.. 6
Section 2. Insolvency or Dissolution? Definitions of Insolvency. 7
There are three methods to determine insolvency. 8
Section 3: Compliance With The Dissolution Rules.10
Is my company eligible to be dissolved?. 10
Section 4: Advantages and Disadvantages of Dissolution. 12
Section 5 User Guide & Setting up the Control Files. 13
Section 6: Set up the Timetable and Checklist 14
Section 7: Preparing And Completing the DS01 Form.. 20
Section 8: Rejection: Who May Object to the Dissolution and Why Would They?. 21
Section 9: FAQ’s About Dissolution. 22
Section 10: The Reply from The Registrar. 25
Section 11: Restoring a Company After It Has been Dissolved.27
2: Summary. 30
Legal notice. 30
Well, as we all know, there are any thousands of things that can go wrong in a business but always remember this. Small to medium sized business generates economic activity, employment and value added for the local and national economies.
If you started the business or are the sole director, you will know that it is a lonely profession, being an entrepreneur! Sometimes mistakes are made by ambitious directors and the company doesn’t work out. Other times legislation changes mean the company serves no further purpose.
Changes to the law by HMG Government and HMRC to IR35 rules, for example, can mean that personal service companies set up to provide a medium for work for large clients are no longer able to do so.
If you are a director of a larger or more established concern, then you will know just how critical the business is or was to its employees, its suppliers and its customers.
So, chin up, the fact that the company has not worked or delivered is not the end of the world. The fact that HMRC rule changes mean the company is no longer necessary can be annoying but “it is what it is”. Alternatively, it may be that a particular market related event has led to its failure or that the idea actually never got off the ground and the company has not traded.
The fact that you have purchased this programme, positively demonstrates that you are determined to tidy up the loose ends that a dormant company generates and get on with the rest of your life.
There are lots of compliance issues to contend with for the company whether it trades or not. Every company has to file documents and accounts at Companies House such as
· Confirmation statements (formerly annual returns)
· Persons of significant control (PSC)
· Annual accounts, whether the company has traded or dormant
· Corporation tax returns and others like
· Office of National Statistics surveys and Information Commissioners procedures
We can help you end all of this unnecessary work with this programme!
If you now have a new role or job these compliance requirements can be a nuisance and time consuming but are a legal compliance requirement for company directors. We help many thousands of people every year, they run different and diverse businesses. Most are fantastically hard working, many are innovative and creative, others are great with numbers or processes, still more are great leaders. BUT all of the people we work with and help may share ONE COMMON TRAIT: The emotional “roller coaster of insolvency”.
“Running a company that’s approaching insolvency or that is actually insolvent, or now dormant, can be an emotional roller coaster; there are good days and bad, great successes and depressing failures. Lots of work to do just to keep up with reporting and accounting.
Remember, although you have fought many battles before on your own, now you have the UK’s leading Company Rescue firm on your side, and we know what you’re going through”!
Keith Steven 2019
Many people tell us that they don’t believe that some creditors will accept a proposal to dissolve the company but, done properly over time, this may not be a problem if the company and its directors have acted correctly and properly.
Over 480,000 companies were dissolved by directors or by the Companies Registrar in 2018. It is often just a process of tidying up the Companies House Register of non–trading companies and also ensuring that trading companies DO comply, that the directors DO report and directors DO act properly.
So, let’s start with a well-used phrase, “You are where you are”. There is no time for blame or recrimination it’s all about one thing now……….
FOCUS ON REMOVING THE COMPANY FROM THE REGISTER!
Here are the vital steps to get rid of the company. Check this off as you do them!
q Read the guide in full. See the step by step flowchart on page 18
q Set up your files. Buy a lever arch file and make a new folder on your computer or Mac. Set up the file as per appendix 1 (separate to this PDF).