How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Ash Your Own Question

Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
Type Your Law Question Here...
Ash is online now

Hi Alex I am at the Form DS01 stage with the striking off

Customer Question

Hi Alex

I am at the Form DS01 stage with the striking off of my company. I have stopped trading for three months but two things have now happened that have caused me concern in relation to the definition of ceased trading:

I have had a credit form HMRC re vat due to me on completion of final vat return for the company and Lloyds bank, my business bank, have now taken off £10 on service charges out of the blue as a debit. Does this mean that my company did not stop trading?
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.

Alex Watts : Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return You do not need to wait here as you will get an email when I reply.
Customer :


Alex Watts : No, this does count as trading.
Alex Watts : You are not raising invoices etc
Alex Watts : Can I clarify anything?
Customer :

Great also with the HMRC refund am I right in saying that I am not permitted to take the refund out as money to myself? It must remain in the bank account until the company is struck off?

Alex Watts : You are correct,
Customer :

After the company is struck off what happens to the physical money?

Alex Watts : It belongs to the Crown.
Customer :

SO what do I do with it - send it to them?

Customer :

Also should I close my bank account before striking off application via DS01

Alex Watts : No, because it won't make any difference, it belongs to the crown,
Alex Watts : Get the refund, then strike off
Customer :

But the bank will have it.

Customer :

It is physical money

Alex Watts : It goes to the crown.
Customer :

Alex - what does that mean

Alex Watts : The government get it
Customer :

How do they get it ?

Customer :

automatically whne account is closed?

Customer :

and company struck off

Alex Watts : yes it's automatic.
Customer :

To recap, I wait final vat refund, close bank account and then send in form DS01? Is there any way I am able to send in Form DS01 before refund paid and then close account when refund made?

Alex Watts :

Sadly no - once the bank knows it is going to be struck off they will hold the funds

Alex Watts :

Does that clarify?

Customer : Alex What is the point of me waiting for the refund which is from the HMRC not the bank if it is not going to benefit me it may take a while to get the refund which is delaying the strike off process time.
Alex Watts :

You should get the refund then apply to strike off

Alex Watts :

If you strike off and the refund is delayed, the Crown gets it.

Customer : Does the crown not get it anyway whether I wait for refund or not?
Alex Watts :

Well you can take the money out of the Company but it belongs to the Company

Alex Watts :

It can be distributed to shareholders and then closed

Alex Watts :

That may be how you want to do it

Customer : At what stage can the money be distributed to shareholders?
Alex Watts : After you get it in the account.
Customer : Should it not be kept in in case creditors wind up officially and funds need to be distributed? Is taking the money out not considered as trading?
Alex Watts : You haven't raised invoices. But if no creditors come forward then it can be distrubuted.
Alex Watts :

If this answers your question could I invite you leave feedback on my service which I hope has been excellent today, if you need more information or help then please click reply.

Please remember that I am always happy to help if you have future questions, even if I am in Court I can normally respond within a few hours. For future information, please start them with ‘For Alex W’.

Please bookmark my profile if you wish for future help:

Customer :

Hi Alex - apologies about not concluding - just one more question - I desparately could do with the HMRC amount of £650 that was deposited into the account this month - is it illegal for me to take this out if the company has ceased trading and before it is struck off? Am I able to take it out then deposit it in again within the next two months?

Customer :

Hi Alex still awaiting response. Thank you.

What Customers are Saying:

  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther

Meet The Experts:

  • Jo C.

    Jo C.


    Satisfied Customers:

    Over 5 years in practice
< Last | Next >
  • Jo C.'s Avatar

    Jo C.


    Satisfied Customers:

    Over 5 years in practice
  • Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • Buachaill's Avatar



    Satisfied Customers:

    Barrister 17 years experience
  • Max Lowry's Avatar

    Max Lowry


    Satisfied Customers:

    LLB, 10 years post qualification experience
  • UK_Lawyer's Avatar



    Satisfied Customers:

    I am a qualified solicitor and an expert in UK law.
  • Kasare's Avatar



    Satisfied Customers:

    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • Joshua's Avatar



    Satisfied Customers:

    LL.B (Hons), Higher Prof. Dip. Law & Practice