Skip to main content
What happens if my business dissolves?
Updated over a week ago

Once your business is officially dissolved, we'll need to restrict access to your account and transfer any remaining balance to the Crown. It's important that you consider your business assets before choosing to dissolve your company.

If we become aware that your business has dissolved, we'll:

  • Place a block on your account. This means you won't be able to make or receive payments, and your Direct Debits and scheduled payments will not be processed

  • After 30 days, we'll arrange for any funds in your account to be transferred to the Crown

  • Following this, we'll close your account

We’re required to do this because the Companies Act 2006 states that any assets held by a business at the point of dissolution must be passed to the Crown.

If you've dissolved your business in error or would like to reverse this decision, you can apply to restore your company to the Companies House register. You can find out more about this here. Please contact us if you want to restore your company so that we can update our records.

Did this answer your question?