Company Restoration

Company restoration typically refers to the process of reinstating a company that has been struck off the official register of companies. This could happen due to various reasons such as failure to file necessary documents, non-payment of fees, or other regulatory non-compliance issues.

The process of company restoration usually involves submitting an application to the relevant government authority. Along with any required documentation and payment of any outstanding fees or penalties. Once approved, the company is reinstated to the register and can resume its operations legally.

It is important for companies to promptly address any issues that may lead to their strike-off and to follow the proper procedures for restoration to avoid any further complications or legal consequences.

Why Restore Your Dissolved Company?

Restoring a dissolved company can be necessary for various reasons:

Business Continuity: If the company still holds value in terms of assets, contracts, or intellectual property, restoration allows for the continuation of business operations without interruption.

Legal Compliance: Restoring the company ensures compliance with regulatory requirements. Operating a business without proper legal status can lead to penalties, lawsuits, or other legal consequences.

Asset Recovery: A dissolved company may still possess assets or liabilities that need to be addressed. Restoration enables the proper handling of these assets, whether it involves selling them, transferring ownership, or settling debts.

Reputation Management: Restoring a dissolved company can help protect its reputation and brand image. Continuity in business operations reflects positively on stakeholders, including customers, suppliers, and investors.

Tax and Financial Obligations: Restoring the company allows for the fulfillment of tax obligations and financial responsibilities. Failure to address these issues can result in additional penalties and liabilities.

Employee Welfare: If the company had employees before dissolution, restoring it can be essential for resolving employment matters such as wage claims, benefits, or rehiring employees if necessary.

Avoiding Personal Liability: Directors or officers of a dissolved company may still be personally liable for certain obligations. Restoration can mitigate personal liability risks by reinstating the corporate entity.


The Company Restoration Process

The process of restoring a dissolved company typically involves several steps, once the decision to proceed with restoration is made, necessary preparations are undertaken. This includes gathering all required documentation, such as company incorporation documents, financial records, and any outstanding filings or fees. The application form must be completed accurately and accompanied by the required supporting documents. These documents typically include a statement of compliance confirming that the company meets all legal requirements for restoration.

Payment of Fees: Along with the application, any outstanding fees, penalties, or taxes must be paid. These fees may include the restoration application fee, late filing penalties, and any other fees owed to the government or creditors.

-Administrative Restoration – £295 plus fees (and any late filing penalties if applicable)

-Court Order Restoration – £695 plus fees (and any late filing penalties if applicable)

Notification: If the restoration application is approved, the company will be officially reinstated on the register of companies. The registrar will issue a certificate of restoration, confirming the company’s legal status. After restoration, the company must ensure ongoing compliance with all legal and regulatory requirements. This includes filing annual returns, maintaining accurate financial records, and fulfilling tax obligations.

The company restoration process involves careful preparation, submission of documentation, payment of fees, approval from the relevant authorities, and ongoing compliance with legal requirements. It’s essential to follow each step diligently to ensure a smooth and successful restoration process.