A first Gazette Notice for compulsory strike-off is more than just a formality – it’s a red flag that demands immediate attention. Whether it concerns your business or a company you work with, this notice signals trouble, and understanding its implications is crucial.
In this guide, we’ll break down what a Gazette Notice is, why it’s issued, and the steps you should take if your business (or a company you rely on) is at risk.
A first Gazette Notice is an official public notice published in The Gazette newspaper in England, Scotland or Wales – depending on where the company is registered. It’s a formal notice that Companies House intends to remove it from the register, effectively dissolving it.
The notice can either be for a compulsory strike-off or a voluntary strike-off (we’ll talk more about this later).
If left unresolved, the company will be dissolved and cease to exist as a legal entity, affecting not only the business but also its customers, partners and suppliers.
Both types of notice serve the same purpose; to inform the public that the company will soon be closed down, ultimately ceasing trading. The key difference is:
Compulsory strike-off
Issued directly by Companies House when a trading company fails to meet a set of legal requirements, such as not filing accounts. The first Gazette Notice for compulsory strike-off serves to force action to compel a company to cease trading, removing them from the register.
Voluntary strike-off
Served with the same intent, the first Gazette Notice for voluntary strike-off is when the company serves the notice on themselves with the intent to stop trading and close down.
A first Gazette compulsory strike-off can be issued when a company fails to meet legal obligations, such as:
You only have a limited window to recover debts or outstanding payments before they’re wiped out. Once the company is struck off, you forfeit any legal claims to anything you are owed.
Upon receiving the first Gazette Notice, the clock starts ticking. The company typically has two months before being removed from the register. However, if the company believes the notice was issued in error, they can file an objection with Companies House.
Public warning:
The Gazette is the UK’s official public register and is accessible by the public. This means that suppliers, creditors and customers may become aware of the strike-off.
Frozen accounts:
It’s common for banks to regularly check the Gazette entries as they look to freeze the accounts of their customers who have been served with a strike-off notice to restrict their funds.
Removal:
If the company takes no action, Companies House will proceed to strike off the company and remove it from the register. Once removed, the company ceases to exist, and any remaining assets are transferred to the Crown.
Take no action:
If the company no longer has a purposeful future and you would be happy if it ceased trading, then you can allow the process to run its course.
Creditor objections:
The Gazette notifies creditors of the applications against your company and your creditors may well object to the notice if the company has outstanding debt or liabilities.
Apply for a suspension:
Alternatively, if you want to keep trading, you must file an objection with Companies House before the process is finalised.
Navigating the complex world of business can be daunting, but AMLCERT is helping businesses stay ahead of financial risks. From monitoring a company’s status, assessing its financial stability or taking swift action in response to a strike-off notice. Our comprehensive platform provides real-time data and actionable insights- so you can make more informed decisions and drive better outcomes.