When a company is struck off the register, it means that it is officially dissolved and ceases to exist as a legal entity. However, the striking off process does not automatically absolve the company of its previous financial obligations, including any accrued penalties or late filing fees. These fees typically arise from failing to submit required documents, such as annual returns or financial statements, on time.
In most jurisdictions, any outstanding penalties or fees that were incurred before the company’s dissolution remain collectible. However, once the company is struck off, it ceases to have a legal responsibility to pay these fees. This does not prevent the governing regulatory body from seeking payment from directors or other responsible parties personally, depending on the jurisdiction’s laws and the specific circumstances surrounding the company’s dissolution.
Additionally, if any future applications are made to restore the company to the register, all outstanding fees and penalties usually must be settled as part of that process. It is advisable to consult with a legal or financial advisor familiar with local corporate laws to fully understand the implications and any personal liabilities that may arise due to the company’s dissolution with outstanding late fees.