helpline
A one stop location for any business or director that is looking to close a business whether through an insolvent liquidation or whether you are looking to retire and close a solvent business. We also provide guidance on claiming redundancy pay following liquidation as well as advice for creditors that are dealing with a potentially insolvent business
Everything you need to know about company liquidation, the reasons, process, types, advantages and disadvantages, costs, and what happens after liquidation.
Whether you are an insolvent business struggling to pay your creditors or a director of a solvent business and are looking to close your business and return. This comprehensive guide to insolvency will answer your questions.
In this guide we will explain everything you need to know about the Creditors Voluntary Liquidation process including what it is and how the process works
We also consider the main advantages and disadvantages as well as what happens to the employees, creditors and directors. Finally, we look at what happens once the liquidation has finished.
When NOT to use Company Strike Off. When not to dissolve your company.
We explain under what circumstances you should not strike off your business. This is increasingly important for companies with an outstanding Bounce Back Loan,
Give us a call at Company Doctor today on 0113 237 9503 or visit our website at www.companydoctor.co.uk
Process of Liquidation and Advantages of Company Liquidation
A Guide to the process of entering into voluntary liquidation and what this entails for your business from start to finish
If a limited company is unable to pay creditors it may be forced into compulsory liquidation. This is a process initiated by creditors who will petition for a company to be wound up and closed following the expiry of a statutory demand for payment.
Once an Order is granted, an Official Receiver will take control of the business and will be responsible for making any remaining employees redundant plus the sale of assets so the funds can be distributed.
HMRC and the Insolvency Service are increasingly clamping down on companies seeking to strike off with an outstanding Bounce Back Loan.
This article looks at 3 case studies for different companies and what the outcomes were for the directors involved.
Directors should therefore seek independent advice before closing their business
If you are the director of a failing business that has or is entering into insolvent liquidation, you may not know that you could be entitled to redundancy pay in the same that your employees are.
This guide from the Gazette explains what criteria you need to qualify and also how to initiate a claim for any redundancy pay you may be entitled to.
A common question from company directors following company liquidation is whether they can set up a new business with the same name or similar.
In most situations the answer will be "no". However, in some circumstances, as discussed in this article, it may be possible to apply to use an old company name.
When a company enters liquidation, all known creditors will be notified by the appointed liquidator. However, in some instances, you may not be notified if your details are not known at the time.
Creditors can therefore search Companies House website to check on the status of a company that owes you money to check on its current status.
If you are an employee of a company that is insolvent and has entered into liquidation, you can submit a claim to the government for any redundancy pay you are entitled to as well as certain other payments you are owed. This can include unpaid wages, holiday pay and commissions.
Click on the link to initiate a claim if this scenario applies to you.
