WELCOME TO THE NEW ERA OF ACCOUNTING
Put simply, company restoration is the process of legally restoring your company from Companies House after it has been dissolved.
This process, also known as an ‘administrative restoration’ will cost you £100.
You may decide to opt for company restoration if you realise that there are still valuable assets within the company, or that money is owed to the business. The only way to release these assets is to restore the company.
You may also find yourself needing to file for company restoration if there is a legal dispute between yourself and shareholders. In order to resolve any legal affairs relating to the company, you will need to restore it.
There are certain conditions you need to fulfil in order to be able to apply for company restoration. This includes
- You were a director shareholder.
- The company has been dissolved in the past 6 years.
- You were trading at the time of being dissolved.
If you satisfy these conditions, in order to apply for company restoration you will need to send Companies House the following –
- Completed application
- £100 cheque payable to Companies House
- Outstanding documents such as previous accounts
- Any fees
- A waiver letter from Bona Vacantia – if your company had assets.
Keywords – Company Restoration