Find Licensed Insolvency Practitioner in the UK

Liquidation is one of the most unwanted things for any company. It is a phase when the company is on the verge of closure due to different factors. Many things contribute to this and you can also avoid this unwanted closure. For this, you need to take services from some licensed insolvency practitioner. 

The UK has plenty of listed and unlisted companies. Each company has distinct management and way of operating. Many factors contribute to this and once such things are removed, you can save your company. The financial status of a company puts a strong impact on its social stability. A financially stable company can stay in the market for a longer duration and can also increase its market share and area. But on the other hand, a company with a weaker financial status will face more difficulties than others. Such companies are not considered reliable for bulk deals on credit. Sellers hesitate in doing such deals fearing monetary losses. To close a company, two major processes can be followed as per the financial status of the company. 

CREDITORS’ VOLUNTARY LIQUIDATION (CVL)- 

The process of liquidation takes months to complete. It is a dynamic process that requires a series of steps to be completed to generate results. Company closure can be due to different reasons and factors. CVL is done when a company becomes insolvent and enters an incapacitated state. At this point, such a company is not able to pay off its current debts and dues. This process can be only completed by taking help from a licensed insolvency practitioner. We will do all the necessary steps on your behalf and will also guide you properly, in case this is the only option left. Once you complete the CVL process, your company will be struck off the register at Companies House.

MEMBERS’ VOLUNTARY LIQUIDATION (MVL)- 

There are times when a company is formed for a specific purpose and once this purpose is over, it is time to close the company. This closure can be done through MVL. It is essential to note that this can only be selected when the company is solvent and has enough funds. It is an easier way to withdraw all the unnecessary cash from the company and to use it for a better outcome. You can also get tax relief and entrepreneur’s relief. It is a process that allows shareholders to appoint a liquidator to formally close down a solvent company. To pass the process, you need to have at least 75% positive votes in favor of the closure. 

These are two primary ways to close a company. You can contact us at ‘Simple Liquidation’ to seek assistance from our qualified licensed insolvency practitioner. You can get an estimate for your company from our website in a few seconds by filling in some basic details. For more information contact us at our website and our qualified staff is all set to help you in this.

Location: London, UK

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