Begbies Traynor Group

Closure Options

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Company Dissolution – Who can object to striking off?

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 being eligible for dissolution, as the process is not available to insolvent companies.

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If my company is liquidated, am I personally liable for product guarantees and warranties?

If my company is liquidated, am I personally liable for product guarantees and warranties? We offer advice on your liabilities during a liquidation process.

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Should I close my company or leave it dormant?

If you are unsure whether closing down your business is the right decision, leaving it dormant may be a better option. Each process has its own pros and cons.

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Understanding creditors’ rights to form a liquidation committee

Find out more about the establishment and running of a liquidation committee during the liquidation process.

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Wind up a limited company with or without debts?

The winding up process will be determined by the financial state of the business - is it solvent or insolvent? Liquidation can be voluntary or compulsory.

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Advantages and Disadvantages of Company Liquidation

An overview of the company liquidation process highlighting the advantages and disadvantages of this corporate solution, by Begbies Traynor.

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What happens when a company strike-off procedure is rejected?

The application to strike-off a company from the Companies Register can be rejected if the company is found to have outstanding debts. In this case any debts must be settled before the company dissolution can be actioned, or if the company is insolvent then the liquidation of the company may be required.

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What does it mean when a company has ceased trading?

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.

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Strike off a Company vs Business Liquidation

Company strike off - also known as dissolution - and liquidation are two business closure processes with key differences. What do they mean for directors?

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Can I liquidate one company which is part of a group?

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 reasons behind this but it is often the case of wanting to close down an unprofitable arm of the company.

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What happens when a company goes into liquidation?

Liquidation is a process that closes a company down and removes it from Companies House; here we explain the processes for solvent and insolvent liquidation

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Can I close my company with a DS01 form?

Closing a company with a DS01 form means you voluntarily strike the business from the register at Companies House. It is inexpensive and relatively straightforward, but there are other closure options that may be more appropriate.

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IR35 Reforms and Creditors’ Voluntary Liquidation (CVL)

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Tax Efficient Way to Dissolve a Business Partnership

Begbies Traynor provides guidance on the dissolution of a business partnership, such as a limited liability partnership, and the potential tax implications.

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Reuse of a company name following liquidation

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.

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Closing a limited company

Closing a limited company. Begbies Traynor is the UK's market leader in business recovery. With over 100 UK offices and over 1000 staff we are well positioned to assist you.

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