Ltd company with debts: can it still be closed?

Many business owners assume they can simply strike off a company even if it has outstanding debts. However, creditors can object to the strike-off, and in many cases this route is not allowed at all.

If a LTD company cannot pay its debts, a formal insolvency procedure may be required instead of strike off. Directors must act in the best interests of creditors and follow legal requirements to avoid penalties or personal liability.

We assist in assessing the situation, identifying the correct closure route, and ensuring compliance with HMRC and Companies House regulations throughout the process.