Administrative restoration is the process of restoring a business to the Companies House register that has been forcibly struck off. Once a company has been removed from the Companies House register this means that they cease to exist as a business entity, and can no longer trade. There are a number of reasons that a company may have been struck off. These include:
- Failing to submit an annual confirmation statement (Form CS01)
- Failing to file accounts on time
- Failing to notify the Companies House about a change of official registered office address
The company will be sent warning letters before they are struck off, however if these are ignored, the company will be forcibly struck off. Often businesses will start falling behind on their duties when they’re struggling financially. Don’t let these issues escalate – be proactive in seeking professional business rescue guidance in order to recover your business. Acting at the first signs of trouble will give you the best chance of rescuing your business.
However, if your business has been struck off, it may be possible to restore the company to the Companies House register via administrative restoration. Let’s take a closer look at what this process involves.
How To Apply For Administrative Restoration
In order to be eligible to apply for administrative restoration, the strike off must have occurred within the last 6 years and the company must have been forcibly struck off rather than voluntarily. These are the steps that the director or shareholder needs to take:
- File Form RT01, along with the £100 filing fee required to apply for administrative restoration
- Obtain a Bona Vacantia administrative restoration waiver letter (if the company owned assets). Bona Vacantia refers to the assets that remained in the company when it was struck off, and that would be transferred to the crown if they weren’t claimed by directors or shareholders. The waiver letter provides written confirmation that the assets previously owned by the company can be returned. The current cost for this is £64.
- File any previously unsubmitted documents and fees. This will include confirmation statements and any overdue annual accounts. This will involve a £40 filing fee.
If the application for administrative restoration is accepted then the company will be restored to the Companies House register. It is deemed to have continued in existence as if it had not been dissolved and struck off the register.
Can A Company Be Restored After Voluntary Strike Off?
If a business voluntarily chose to be struck off, for example, if they felt the business had run its course, they cannot apply for administrative restoration. However, you can apply for the restoration of a company via court order. Directors may want to restore the business in order to recommence trade, release an asset, or if a claim is being made against the business then restoration of a company may also be required in these circumstances.
If you are concerned about the future of your business, or need advice on recovering or rescuing your company, please don’t hesitate to get in touch with our experienced team at Ballard Business Recovery.
