Under the Companies Act 2006, the assets of a dissolved company become bona vacantia — "ownerless goods" — and vest automatically in the Crown. Banks freeze the account the moment dissolution appears on the register.
Before Companies House will restore a company that held assets, the Government Legal Department (BVD) must issue a waiver letter confirming the Crown will not retain the assets. The BVD charges a fee for this, and poorly drafted requests are routinely rejected or delayed.
Restoration has retrospective effect: the company is treated as though it was never dissolved. Bank accounts are unfrozen and balances are released back to the company — though banks can take one to two weeks to complete their own checks.
We manage the entire waiver correspondence and funds release as part of our restoration service. Talk to a specialist today.
Specialists at Xact+ Accountants helping UK directors reinstate struck-off companies, meet Companies House and HMRC obligations, and recover frozen funds.
Speak to a restoration specialist today — most eligible companies are back on the register in 4–6 weeks.
Start restorationSend the basics. A case manager checks the register and comes back with the route, the documents and the official costs.
Start with how the company was dissolved.
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