Why your money went to the Crown
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.
The waiver letter
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.
What happens after restoration
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.
Common mistakes to avoid
- Applying to Companies House before the waiver letter is secured
- Ignoring overdue confirmation statements and accounts
- Assuming the bank will automatically reopen a closed account
We manage the entire waiver correspondence and funds release as part of our restoration service. Talk to a specialist today.
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