Introduction to STK 6 Application
The STK 6 application form is used to strike off and dissolve a company in the UK. This process is also known as company closure or removal. The application can be made by the company's directors, provided the company meets the necessary requirements.
To be eligible for strike off, the company must not have traded or sold any assets in the last three months, and must not have any outstanding debts or liabilities. The company must also not be subject to any ongoing legal proceedings.
Eligibility Criteria for Company Strike Off
To apply for company strike off, the company must meet certain eligibility criteria. The company must be a private or public limited company, and must not have any outstanding debts or liabilities. The company must also not be subject to any ongoing legal proceedings or investigations.
Additionally, the company must not have traded or sold any assets in the last three months, and must not have any assets or property that exceed £25,000 in value. The company must also have filed all necessary tax returns and accounts with HMRC and Companies House.
The Company Strike Off Process
The company strike off process typically takes around 3-6 months to complete, provided there are no objections to the application. The application is made by submitting the STK 6 form to Companies House, along with a fee of £10.
Once the application is received, Companies House will publish a notice in the Gazette, giving notice of the proposed strike off. This notice will remain in place for a period of 3 months, during which time any interested parties can object to the application.
Consequences of Company Strike Off
If the company strike off application is successful, the company will be dissolved and removed from the register of companies. This means that the company will no longer exist as a legal entity, and will not be able to trade or enter into any contracts.
The directors and shareholders of the company will also be released from any further obligations or liabilities in relation to the company. However, it is worth noting that the company's assets and property will be transferred to the Crown, and any outstanding debts or liabilities will remain enforceable against the company's directors and shareholders.
Alternatives to Company Strike Off
In some cases, company strike off may not be the most suitable option for a company. For example, if the company has significant assets or liabilities, it may be more appropriate to consider alternative options such as voluntary liquidation or administration.
Additionally, if the company is facing financial difficulties, it may be possible to consider alternative options such as a company voluntary arrangement (CVA) or a scheme of arrangement. It is recommended that companies seek professional advice from a qualified insolvency practitioner or solicitor before making a decision.
Frequently Asked Questions
What is the purpose of the STK 6 application form?
The STK 6 application form is used to strike off and dissolve a company in the UK, provided the company meets the necessary requirements.
How long does the company strike off process take?
The company strike off process typically takes around 3-6 months to complete, provided there are no objections to the application.
What are the eligibility criteria for company strike off?
To be eligible for strike off, the company must not have traded or sold any assets in the last three months, and must not have any outstanding debts or liabilities.
Can anyone object to a company strike off application?
Yes, any interested party can object to a company strike off application, including creditors, shareholders, and directors.
What happens to the company's assets after strike off?
The company's assets and property will be transferred to the Crown, and any outstanding debts or liabilities will remain enforceable against the company's directors and shareholders.
Are there any alternatives to company strike off?
Yes, alternative options include voluntary liquidation, administration, company voluntary arrangement (CVA), and scheme of arrangement, depending on the company's specific circumstances.