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Your Journey to Closure: Tailored Solutions for a Smooth Exit

Embark on a smooth business exit with our tailored solutions, ensuring a seamless journey to closure.

Tailored Strike Off Solutions for Stress-Free Business Closure

Rio Tax & Accounting specializes in overseeing compliant company dissolutions through our strike off offerings. We manage the end-to-end process from filing statutory notices to settling taxes and distributing assets per share allotments. Seamless liaising with regulators plus meticulous record-keeping ensure smooth business closure. With experience handling dissolution, we assist clients in tying up loose ends around contracts, credits and employees before striking off. We understand once struck off, a company loses legal status. So we help you start afresh, having tied up liabilities beforehand. By customizing our diligent strike off services, Rio Tax & Accounting aims to alleviate the stress of closing up shop compliantly. We simplify next steps through our dissolution support so you can shift focus to new ventures or priorities.

Essential Steps for Voluntary Closure of a Company in India

The company directors must pass a resolution proposing the closure and obtain approval from shareholders if required.
Ensure that all outstanding liabilities, debts, and obligations are settled before proceeding with closure.
Halt all business activities and trading operations before applying for closure.
Notify employees, creditors, and other stakeholders about the intention to close the company.
Distribute any remaining assets among shareholders or ensure proper disposal.
Prepare and file the final set of annual accounts and tax returns with Companies House.
Inform HM Revenue and Customs (HMRC) about the intention to close, settle any outstanding taxes, and file the final VAT returns.
Complete and submit the DS01 form (Application for striking off) to Companies House. All shareholders must sign the form.

After submitting the DS01 form, a notice of the company's intention to strike off is published in the Gazette.
A waiting period of at least two months is required from the publication of the Gazette notice. During this time, interested parties may object to the closure.
If no objections are raised, Companies House will issue a notice of dissolution, and the company is officially closed.
Inform banks, suppliers, and any other relevant third parties about the closure.
Cancel or update registrations with relevant authorities, such as VAT, payroll, and other tax-related registrations.
Close the company's bank accounts after settling all financial matters.
Close the company's bank accounts and settle any outstanding balances.
Settle any remaining salary, benefits, or other dues for employees.
Properly dispose of or transfer company records in compliance with data protection laws.