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A first Gazette notice for Compulsory strike off advertises the fact that an application has been made to forcibly close down a company.
Compulsory strike off is most commonly initiated by Companies House, often due to a company's failure to comply with its accounting and filing obligations. When a compulsory strike off application is received, a public notice is placed in the Gazette. This is known as the first Gazette notice for Compulsory strike off.
There are three Gazettes in the UK ‐ in London, Edinburgh, and Belfast – and the business’ location determines where the first Gazette notice for compulsory strike‐off appears. So what is the reason for this notice, and what are the potential consequences for the company on the receiving end of a Gazette strike off notice?
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When a company is forcibly struck off, a statutory process must be followed, and part of this is the publication of the first Gazette notice. The notice advises the general public, suppliers, institutions, creditors, and other parties associated with the business that the company is at risk of being closed down.
The Gazette notice enables anyone wishing to challenge the closure to object to the proposed striking off.
HMRC, banks, and other common business creditors, regularly inspect this public record for notices that may affect them, and can act if they need to stop the closure. A creditor who is owed money by the company is question is likely to object to the compulsory strike off application, as once this is passed, the company no longer exists and the creditor will therefore be unable to chase the company for the money it owes.
The first Gazette notice provides three months’ notice to creditors of the intended action, and if no challenges are made, a second Gazette notice appears to advertise the company’s dissolution.
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If company directors have consistently failed to file tax returns and annual statements when due, or otherwise fail to comply with the Companies Act regulations, Companies House may start the strike‐off process to close down the company.
If after contacting the company there’s no response, Companies House will assume the company is no longer in business. Therefore, it’s important to act quickly if you receive a first Gazette notice for compulsory strike‐off from Companies House if you wish to save your company from closure.
The notice in the Gazette can set in motion a series of damaging events, and quickly lead to a company’s closure. As we mentioned earlier, the banks inspect Gazette entries and are likely to freeze the bank accounts of company's with an active strike off application against it.
As the Gazette is a public register, customers and suppliers may also become aware of the pending compulsory strike‐off application. They may then take steps to either stop doing further business with the company, or challenge the proposed strike off if they are owed money by the company.
If you fail to respond to the strike off notice, and no creditors object, your company will be struck off the Companies House register and will cease to exist as a legal entity. Should this happen, you will no longer be able to trade via the limited company, and any assets which were within the company at the point of strike off become 'bona vacantia' and ownership of these passes to the crown.
As you can see, there are significant implications of receiving a first Gazette notice for compulsory strike‐off. So what should you do if Companies House attempts to forcibly dissolve your company?
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If you have decided liquidation is the right option for your limited company, you can take the first step and begin the process online using our online portal. Starting the process is quick, simple, and can be done at a time that suits you. Your information will be submitted to your local UK Liquidators insolvency practitioner who will be with you every step of the way. Click here to start your company’s liquidation online.
If you don’t want your company to be forcibly struck off the register, contact Companies House as soon as possible. You’ll need to address the issues that caused them to take their action, and make a suspension application.
If your business is no longer required then you may not need to take any action, and you can let the process take its course. Additionally, a creditor might see the announcement in the Gazette and launch their own challenge to prevent strike‐off. If this is successful then the strike off application will be halted and you will then need to ensure you deal with the problems you company is facing. This may mean bringing your accounting and filing obligations up to date with HMRC and Companies House, and/or dealing with any outstanding debts you company has.
If your company does have debts that it cannot repay and you wish to bring the company to a formal end and deal with these as part of the process, this can be done by way of a Creditors' Voluntary Liquidation (CVL) which is a formal closure procedure for insolvent companies which is administered by a licensed insolvency practitioner.
For more professional guidance on the implications of a first Gazette notices for compulsory strike off, please contact our expert team at UK Liquidators. We’ll provide the reliable unbiased advice you need, and offer free, same‐day consultations.
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If you are considering liquidation for your company, taking expert advice at an early stage is crucial. At UK Liquidators, our team of licensed insolvency practitioners are committed to providing limited company directors with the help and advice they need to make an informed decision.
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