Many businesses are finding themselves facing financial difficulty – often through no fault of their own. Our experts are on hand to support you every step of the way into liquidation or another solution
If you’re struggling to repay your bounce-back loan you aren’t alone. Liquidation may be an option you need to consider. Talk to us today to see what your options are.
We know this can be a challenging time for you financially, to make things easier you can spread the cost of your liquidation with a short-term payment plan.
We’ve been supporting businesses to liquidate their companies for over 20 years. With Express Liquidation you’re in safe hands.
We know it can be difficult to know where to turn when you need to consider liquidation. You can enquire and receive a free expert company health check to see what your options are before you proceed with liquidation.
Our streamlined process means your company could be in liquidation in as little as 10 days.
The team had a good understanding of our industry, so were able to react quickly and effectively to the needs of the business. Their communication and support throughout the whole process was outstanding, I would recommend their services should a business find itself in difficulty.
Excellent service – Prompt, efficient & professional consultancy. Procedural breakdown was informative & provided accurate, clear guidelines.
They worked as a team with property and valuation specialists as well as with relevant management team members to seek the best outcome for the company, the staff and the creditors, while remaining focused on implementing a timely solution. I would be happy to use them again.
I was delighted with the service I received in relation to the voluntary liquidation of my company. The information I received was clear and concise. In short, they managed the entire process for me and made it a painless experience!
Very helpful & efficient service. All questions/queries were answered promptly & all steps clearly explained.
Very helpful service. Can’t thank you enough for all your help.
Very professional at every stage and kept things running smoothly.
I was well informed of the process, and kept updated on what was happening. A truly eye opening experience!
I would like to thank you and all of your staff for the way in which you have handled the administration. I have heard back from the staff and they are pleased with the response and help. Please thank all of your staff on our behalf for their sensitive professionalism and I will follow this thanks up with a letter to this effect.
The shareholders can place the company into liquidation by passing a special resolution at a shareholders’ meeting. A resolution will also need to be passed to nominate someone to act as the liquidator.
After this, a “decision procedure” is held with the creditors of the company. This is where the creditors decide whether to approve the shareholders’ choice of liquidator.
These will be allocated in an order of priority which is as follows – the cost of the liquidation, secured/preferential creditors, and unsecured creditors.
You can start the process of liquidating your company by completing the simple form on our website. After this we’ll contact you to get all the information we need. We’ll need information on your company assets, creditors, and employees.
You can start the process of liquidating your company by completing the simple form on our website. After this we’ll contact you to get all the information we need. We’ll need information on your company assets, creditors, and employees.
Your employees will usually be made redundant. They will be able to claim redundancy pay and other entitlements through the National Insurance Fund. Your liquidator will help with the submission of these claims. If you are able to sell your business they may be able to be transferred to whoever purchases the business.
A solvent liquidation or MVL (members voluntary liquidation) is where a solvent company appoints a liquidator to close down their company.
Closing your company in this way allows your assets to be transferred to you through capital distribution where you may be eligible for Business Asset Disposal Relief which was formerly known as Entrepreneurs’ Tax Relief. Here you are taxed at 10% on all company assets which can save you thousands of pounds.
Net Asset Value is the value of what your company owns minus its liabilities.
Another option available to you is to strike off your company. Via this route Companies House charges £10 but you will pay income tax on your net assets. If you have net assets over £25K after all liabilities have been settled the tax saved via an MVL will usually mean you receive more cash at the end of the process than you would via a strike off.
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