On 23 March 1752, John Bushell printed the first issue of the Halifax Gazette. Now, that small piece of paper is recognized as Canada’s first newspaper and the beginning of print culture in this country. The original issue is held at Library and Archives Canada in Ottawa, along with microform and 20th century newsprint facsimiles.
If you are the director of a business that receives a first gazete notice for compulsory strike-off, you will need to seek professional advice as soon as possible. This is because this is the start of a process that will lead to your company being dissolved, which can have significant consequences. The first gazette notice is a warning that your company is in danger of being struck off the Companies House register, and the process is only stopped when it is challenged.
When a company is in danger of being compulsorily struck off, or dissolved, this is usually because it has consistently failed to file its statutory accounts and confirmation statements. When this happens, an advert is placed in the first gazette, which is the UK’s official public record and advertises various statutory notices. The first gazette notice for compulsory strike-off is posted in one of three Gazettes, depending on where your business is located.
Before a notice is published, the Registrar of Companies at Companies House will contact the directors of the company and give them a chance to rectify the problem before they take action. They will typically send two letters, stating that the company is in breach of its regulations and requesting that company accounts be sent to them. If no response is received, the Registrar will assume that the company has ceased trading and will start the compulsory strike-off process.
Once the first gazette notice is published, a period of two months begins during which any interested parties, such as creditors or customers, can object to the strike-off action. It is important to remember that stopping a first gazette notice for compulsory strike-off can be difficult if you have outstanding fees and taxes with HMRC.
If no objections are received by the end of the two-month period, your company will be dissolved and will be forced to cease trading. This will also mean that your company name will become available for someone else to use, so it is important to consider the implications of a compulsory strike-off before proceeding.
You should note that you can also apply to have your company voluntarily struck off the register instead of being dissolved for failure to submit statutory accounts and confirmation statements. However, the process to do this can be lengthy and isn’t always successful. It is a good idea to talk to a licensed insolvency practitioner before taking this route, as it could have significant consequences for your business and personal assets. Our team of accountants can suggest the best professionals in your area to help you. We would be happy to provide further information about the consequences of a first gazette notice for compulsory strike-off, so please don’t hesitate to get in touch with us today.