Involuntary strike off - chance of disqualification?

fermtri

Query - company set up in the south, never traded, no longer needed, never submitted annual returns, complete oversight, used to UK system which is more relaxed. There are now warnings that a fine of 1,200 is due and involuntary strike off is pending - my question is, how likely is it that the director would be pursued and disqualified off the back of this? It is mentioned as a possibility, but in practice does it happen for offences of this nature?

dbran

Hi

In practice, not likely. In the future who knows.

The real cost is in terms of reputation. Suppose I want to go into business with you or anything else commercial for that matter.

The first thing I do is a search of your name on the CRO,

Low an behold, a string of abandoned companies, no returns, no accounts, not even properly shut down companies, just abandoned.

What does that say about you as a business person and your latest bright idea.

And the longer you leave it the more costly it is to fix.

Regards


dbran