March 24th 2020
When a company goes into liquidation its assets are sold to repay creditors and the business closes down. The company name remains live on Companies House but its status switches to 'Liquidation'. Th…
March 20th 2020
When a limited company is dissolved and its name removed from the register at Companies House, directors must ensure that creditors are paid within 12 months of closure. This is a fundamental part of …
March 14th 2020
Company administration is a formal insolvency procedure that offers protection from creditor legal action via an initial eight-week moratorium period. The process can be instigated by company director…
March 11th 2020
Incorporation as a limited company generally provides protection from director's facing personal liability for product guarantees and warranties. Setting up a business using this legal structure makes…
March 6th 2020
If your business is failing and you are unsure how to proceed, one of the first aspects to consider is whether the company is actually insolvent, or is approaching insolvency. This is a crucial point,…
March 3rd 2020
Closing down a company is a serious decision that needs careful consideration, whatever the reasons for closure. If you have any doubts about whether closing down your business is the right move to ma…
March 2nd 2020
If you own and run several companies which make up part of a group, there may come a time when you want to close one or more of these while continuing to trade with the others. There are a variety of …
February 29th 2020
When considering ending a business partnership, there are two distinct types of dissolution depending on whether one partner wants to carry on trading, or if the entire operation will cease to exist.
February 28th 2020
If your company has been liquidated and you are in the process of setting up a new business, you may be tempted to use the same, or a similar name, for your new venture. This may be particularly true …
February 19th 2020
If you have reached agreement with other directors and shareholders that the company should be closed, the manner in which this is achieved depends on whether the company is solvent or insolvent. Clos…
There are various ways to close down a limited company, from striking it off the register at Companies House to compulsory liquidation instigated by its directors. The most appropriate route for your …
February 13th 2020
Companies can cease trading for various reasons including a director’s retirement or ill health, ongoing financial problems, or simply because the company serves no further purpose. When a business …
February 10th 2020
Dissolving a limited company involves striking it off the register at Companies House, after which it ceases to exist. Directors approaching retirement often choose this cost-effective way to close do…
February 6th 2020
There are certain rules and regulations surrounding company liquidation, many of which focus on your actions as a director particularly if your company becomes insolvent. As the director of an insolve…
February 5th 2020
When a limited company becomes insolvent and there is no chance of rescue or restructure, liquidation becomes the only remaining possibility. But directors do have the option of voluntarily liquidatin…
February 1st 2020
There is a distinct difference between your company entering liquidation, and calling in administrators. Liquidation signifies the end of your business with the unavoidable loss of jobs for all employ…
January 31st 2020
When a company is dissolved, although it is struck off the register at Companies House, it can be restored at a later date should a creditor make a claim, or assets come to light that need to be dealt…
January 27th 2020
There are a number of avenues that you could follow if you wish to close a solvent company. However, the most appropriate one for you depends on a number of factors, particularly concerning the compan…
January 26th 2020
When a company is wound-up, whether via compulsory liquidation or a Creditors’ Voluntary Liquidation (CVL), a committee is sometimes formed to monitor the liquidator’s activities and look after th…
January 25th 2020
Once a company is no longer required, or if its financial problems have taken it beyond the point of rescue, the business can be closed through a process known as liquidation. The way in which a limit…
January 22nd 2020
During liquidation procedures creditor interests must be kept to the fore and, as a group, unsecured creditors have rights in the process. All creditors within that group must be treated equally, alth…
January 21st 2020
Dissolving a limited company is a fairly straightforward process, but there are specific conditions and requirements that need careful consideration. The dissolution process is a cost-effective way to…
January 18th 2020
A company strike off procedure can be instigated by directors of limited companies if they wish to close a business. In this case it is known as a voluntary strike off and is actioned by the company d…
January 14th 2020
If your company is going into liquidation, the process will involve realising all business assets and holdings in order to repay creditors. There are two types of liquidation – voluntary and compuls…
January 9th 2020
Creditors’ Voluntary Liquidation happens when shareholders and directors agree to place the business into liquidation because it can no longer pay its bills when they fall due. This is the most com…
January 5th 2020
If your company is facing insolvency, you may be wondering if voluntary liquidation is a possibility. Be aware that if you do not act quickly a secured or unsecured creditor could take the future of t…
