If you are debating whether liquidation or strike off is the best option for your company to achieve closure, you must think carefully about your company’s levels of both assets and liabilities. Strike off is only recommend for those company’s who have no debts and no significant assets.
If your company owes money to creditors that it is unable to repay, it must be placed into liquidation. Strike off is not an option for companies which have outstanding debts. Likewise if your company has assets in excess of £25,000, it is likely that liquidation by way of an MVL, will be a more cost-effective and tax-efficient way of closing the company rather than having it struck off via the dissolution process.
If you are in any doubt as to which closure option is right for your company, you should seek advice from a licensed insolvency practitioner who will be able to talk you through your options for both liquidation and strike off.