The quick answer is no you can not normally use the same or similar company name and you will not be able to for five years following the liquidation of the company. However there are some exemptions discussed below.
There are three main exceptions to be able to re-use the same or similar trading name and these are:
If you fail to comply with the rules then the penalties are a possible fine, imprisonment, personal liability for the new company debts and an increased chance of being disqualified as a director.
There is no restriction on re-using a name if your company goes into Administration and then dissolution.
It is worth noting these rules are from Section 216 of the Insolvency Act 1986.
David qualified as a Chartered Accountant in 1990 and Licensed Insolvency Practitioner in 1996.
David will give you clear and plain language advice about your business’s options and make a recommendation of which route he thinks will work best for you.
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Licensed Insolvency Practitioner