From time to time companies are struck off the register and have to be restored again. Companies are commonly restored to trade again or to release an asset or if a claim is made against the company’s insurers. Whatever the circumstances First Corporate can provide a quick and efficient service with all procedures explained and costs provided.
Restore to Trade Again
Under the 2006 Companies Act companies can be restored to the register provided they meet certain criteria.
- The company must have been struck off by Companies House and not at the request of the director/s.
- The company must have been struck off for less than 6 years.
- The company can only be restored to trade again.
- The company must file all outstanding accounts and/or annual returns.
If these conditions are met there is no requirement to go through the Court procedure. First Corporate will provide all documents for signature and liaise with Companies House and the Treasury Solicitor.
Time taken for this type of restoration is around four weeks. Fees are £400.00 inclusive of Treasury Solicitor, Companies House fees and VAT. Please note these fees do not include annual return duty or any late filing penalties from Companies House.
If the company wishes to trade again and falls outside the above criteria it can be restored by using the High Court System detailed below.
Restore to Trade Again
High Court System
This is valid for companies that have been struck off either by Companies House or the Directors for up to 6 years.
The person signing for the dissolved company must have been an officer and shareholder at the time of dissolution.
First Corporate will provide all witness statements, exhibits and claims forms for signature and will liaise with Companies House, The Treasury Solicitor and the High Court. All outstanding accounts and annual returns must be filed.
Time taken for restoration is up to 10 weeks. Fees are £1448.00 inclusive of Treasury Solicitor’s fees(£300), Court Fees(£308) and VAT. Please note these fees do not include annual return duty or any late filing penalties from Companies House.
Restore to Release an Asset
This service is only available through the High Court System. The main difference being that the directors are not required to file accounts or annual returns. Once the company is restored the directors have three months to transfer any assets before applying to strike the company off again.
Timescale and fees are the same as Restoring to Trade Again using the High Court System, minus the annual return duty and accounts late filing penalties.