You want to keep same company name and do not want to pay the expensive late filing penalty, it is possible.
The Companies Act does not stop your company director to dissolve a limited company and setup a new one with the same company name.
Automatic late filing penalty
One of the common reasons people apply to dissolve their limited company and setup a new one because they forgot to file their dormant company account thinking it is a dormant company and it has nothing to show. Companies House has completely different view on this and they would issue automatic late filing penalty and you have not pay unless you can show your circumstance is exceptional.
The maximum late filing penalty for late filing of your company accounts is £1500 for a private limited company and £7500 for a public limited company.
If you could not proof that your circumstance is exceptional then you must pay the late filing penalty if you want to keep your company name.
Sometime it is cheaper to setup a new company with the same name than to pay the maximum late filing penalty. This is only possible if your limited company is dormant, it has no bank accounts or any trading activities whatsoever. This is because your new limited company would have a different registration number to that of your existing dormant company and technically and legally it is a completely new entity with no trading history. A new company.
Once you have legally dissolved your dormant company, you do not have to pay the late filing penalty, no more filing of your dormant company account and confirmation statement.
Dissolve dormant company and setup new one
Actions to take to dissolve your dormant company and setup a new one with the same company name.
Step 1: Submit your application to strike off your limited company with Companies House. The form DS01 must be signed by company directors.
Your company dissolution process will take about two months to complete provided no third party objection while the application was published in the Gazette.
Step 2: Once your limited company is dissolved by Companies House, you may then incorporate a new limited company with the same name by submitting your new company incorporation form, the IN01 with Companies House.
Your company registration process should take about one business day if doing it online and if submission by printed form should take slightly longer.
Companies House will reject your company incorporation form if your existing dormant company dissolution is still in progress as your company name is considered not available or already taken.
It is possible to carry out your dormant company dissolution and new company incorporation yourself if you have time to monitor and check with Companies House of the dissolution progress. the timing is crucial here to avoid your company name being registered by someone else after it was dissolved.
Seek accountants advice if you are not familiar with company dissolution and incorporation.