Company Liquidation
How do you Liquidate a Company? To find out watch the video below or scroll to read…
 |
By the end of this short video you will understand:
|
Testimonials from people just like you…
|
Listen to what David has to say how we helped him. |
Find out how we helped Andrew with his business. |
Hear what Kathy has to say about what we did for her. |
Company Liquidation Helpline 0800 24 0800
What is a company liquidation and how best to liquidate a company the fastest and safest way. How many ways can you liquidate a company and what are the advantages and disadvantages. What could go wrong if you take the wrong advice.
|
|
There are 3 common ways a company can be put in to liquidation:
First, A Compulsory Liquidation by the courts if the company owes money for goods or services received. This sort of an action can be brought about by a secured creditor or an unsecured creditor of the company.
Second, A Creditors Voluntary Liquidation is the most common form of liquidation in the United Kingdom. This is normally the case when the company has come to the end of the road or is trading insolvently due to cash flow to continue business. The main concern for the directors is wrongful trading if the company continues trading and accumulating debts when the directors know the company cannot continue in its current form with the debts.
Third, A Shareholders Voluntary Liquidation is where the company has served its purpose and has funds to pay all its creditors secured and unsecured including taxes.
So What is a Liquidation of a Company?
First of all we need to understand what a company is, a company is a separate entity in its own right just like the shareholder or the directors are. The directors are the officers of a company who run the company. The shareholders are the people who have taken invested money in the company and have taken shares in return. A director can also be a shareholder in the same company , this is the most common small business you find around the world.
When a company is placed in to liquidation an insolvency practitioner (liquidator) steps in to the shoes of the officers of the company to finalise the affairs of the company, i.e. sell any assets of the company if any and pay any liabilities with what dividends are left if any amongst the creditors. Once all that has been completed the company is then dissolved and removed from the Companies House Register. That’s the end of the company.
Can I Liquidate My Own Company?
If the company has creditors with debts outstanding then you cannot liquidate the company without having to employ the services of an insolvency practitioner. It may be wise to seek the professional advice of an Insolvency Auditor for a free consultation to see the options you have open to you and to minimize and personal liabilities you as a director might have. The insolvency auditors looks after the interests of the directors. The insolvency practitioner is bound by law to look after the interests of the creditors.
If on the other hand if the company has no debts at all then simply fill in a simple form along with a small fee to companies house and have the company removed from the register.
Can I save my Company From Liquidation?
If the company has creditors with debts outstanding then you cannot liquidate the company without having to employ the services of an insolvency practitioner. It may be wise to seek the professional advice of an Insolvency Auditor for a free consultation to see the options you have open to you and to minimize and personal liabilities you as a director might have. The insolvency auditors looks after the interests of the directors. The insolvency practitioner is bound by law to look after the interests of the creditors.
If on the other hand if the company has no debts at all then simply fill in a simple form along with a small fee to companies house and have the company removed from the register.
Company Liquidation Advice from the UK's Most Trusted Insolvency Auditor
There must be a reason why most people are saying Moe Nawaz is the UK's most trusted Insolvency Auditor. Moe Nawaz (as seen on T.V.) is a nationally recognised insolvency auditor who has focused on providing insolvency help to business owners and company directors for over 20 years. He regularly travels the country training accountants and solicitors and enrolled agents on how to handle their toughest cases with the Inland Revenue and Customs and Excise. Moe is highly ranked among the top insolvency auditors in the country, with two books to his credit as an author “The Insolvency Survival Guide For Businesses” and his second book “Bankruptcy Guide”.
With clients from Scotland through to Devon Moe enjoys travelling to meet his clients, he has what it takes to solve your tax or VAT problems for your company no matter where you live in the United Kingdom. If you would like more information about his practice and how he can help you, please call his office on 0800 24 0800 or contact him via email.
|
 |
 |
 |
 |
 |
 |
 |
 |
