Dissolved Company

tigerchild

I’m really hoping that someone will help me. I know I’ve been really stupid but if anyone knows I would really appreciate you helping me out.

My husband and I were the sole Directors of a limited company that hadn’t traded for a year. At the end of July this year the company got struck off the register at Companies House. However, an old debtor paid £6000 owing to the company a week prior to the company being struck off the register. The bank have now sent us a letter saying that the money is now ‘bona vacantia’. I contacted the bank to be told that the money will be sent to the crown next week and unless the company is reinstated there is nothing that can be done about this. My first question is therefore - is there anyway to stop Barclays sending the money to the treasurers secretary and send it to us?

I have read the information on companies house, and it seems that we can’t reinstate the company as it wasn’t trading and also we owe Companies House about £2500 in penalties due to non-filing of the accounts with them.

My second question is – we also owe HMRC about £1000 in outstanding corporation tax and penalties. These accounts and corporation tax returns are with our accoutants now for completion. Therefore my second and third question is – do we still need to complete the accounts for HMRC and does the company still owe HMRC the Corporation Tax?

I am in a a terrible panic about this, I meant to take the money out of the bank prior to it being dissolved, but unfortuately forgot, due to ongoing health issues with my baby son, which is why we stopped trading in the first place. I know I’ve been extremely stupid and I’m really hoping someone can give me some good advice. Thanks.

Premier_2

tigerchild wrote: »

I’m really hoping that someone will help me. I know I’ve been really stupid but if anyone knows I would really appreciate you helping me out.

My husband and I were the sole Directors of a limited company that hadn’t traded for a year. At the end of July this year the company got struck off the register at Companies House. However, an old debtor paid £6000 owing to the company a week prior to the company being struck off the register. The bank have now sent us a letter saying that the money is now ‘bona vacantia’. I contacted the bank to be told that the money will be sent to the crown next week and unless the company is reinstated there is nothing that can be done about this. My first question is therefore - is there anyway to stop Barclays sending the money to the treasurers secretary and send it to us?

I have read the information on companies house, and it seems that we can’t reinstate the company as it wasn’t trading and also we owe Companies House about £2500 in penalties due to non-filing of the accounts with them.

My second question is – we also owe HMRC about £1000 in outstanding corporation tax and penalties. These accounts and corporation tax returns are with our accoutants now for completion. Therefore my second and third question is – do we still need to complete the accounts for HMRC and does the company still owe HMRC the Corporation Tax?

I am in a a terrible panic about this, I meant to take the money out of the bank prior to it being dissolved, but unfortuately forgot, due to ongoing health issues with my baby son, which is why we stopped trading in the first place. I know I’ve been extremely stupid and I’m really hoping someone can give me some good advice. Thanks.

Post removed - see post#5 below by Pennywise

antrobus

Premier wrote: »

As you say, you can't re-instate the company because you failed to operate it correctly....

Yes you can. The process is called 'Company Restoration'. Here's the link to the official document that explains the process;

http://www.tsol.gov.uk/Publications/Scheme_Publications/company_restoration.pdf

tigerchild wrote: »

My husband and I were the sole Directors of a limited company that hadn’t traded for a year. At the end of July this year the company got struck off the register at Companies House. However, an old debtor paid £6000 owing to the company a week prior to the company being struck off the register. The bank have now sent us a letter saying that the money is now ‘bona vacantia’. I contacted the bank to be told that the money will be sent to the crown next week and unless the company is reinstated there is nothing that can be done about this. My first question is therefore - is there anyway to stop Barclays sending the money to the treasurers secretary and send it to us?

No, but you can get it back once the company is restored.

tigerchild wrote: »

I have read the information on companies house, and it seems that we can’t reinstate the company as it wasn’t trading ..

I don't think that's right. CH has struck the company off the register because it isn't trading and you haven't paid the fees to keep it going. You just need to find a lawyer to go through the restoration process.

tigerchild wrote: »

My second question is – we also owe HMRC about £1000 in outstanding corporation tax and penalties. These accounts and corporation tax returns are with our accoutants now for completion. Therefore my second and third question is – do we still need to complete the accounts for HMRC and does the company still owe HMRC the Corporation Tax?

The answer would be yes if you get the company restored, otherwise no, since a struck off company doesn't exist.

However look at it this way, there is a £6,000 cheque which will shortly be in the hands of the Treasury Solicitor. If you get the company restored, the company will be able to retrieve that money and;

- pay the outstanding CH fees of £2,500
- pay the outstanding tax liability of £1,000

leaving a residue of £2,500 to pay for the costs of restoration. Will there be sufficient money left over to make it worth the hassle?

Premier_2

Post removed - see post#5 below by Pennywise

Pennywise

Seems the OP is confused.

They've posted exactly the same over on the Accounting Web forum where they've turned themselves into the accountant, not the husband/wife directors.

http://www.accountingweb.co.uk/anyanswers/question/bona-vacatia-£6000-frozen

Seems the OP is in fact an accountant who's out of his depth. Pretty poor form pretending to be the directors and asking for advice, which no doubt they would then charge a fee to the real directors!

texranger

tigerchild wrote: »

My first question is therefore - is there anyway to stop Barclays sending the money to the treasurers secretary and send it to us?

you and your husband were directors (shareholders) of a limited company that was struck off because you failed to run it correctly.

so someone has sent a cheque to barclays to a company bank account that does not exsist and the comapny does not exsits, so i would say the funds should be returned to the sender, but if the funds were already in the account then the account holder (the ltd company) must have this returned to them, but as the company no longer exsists then you are no longer shareholders and are not entitled to these funds, so they will be returned to the treasury. I would dare say that if anyone else decided to set up a ltd company in the name of your removed ltd company then they would be entitled to reclaim this money