How To Shut Down Your Company
Shut your business by the overall cheapest and most tax efficient way.
Find The Cheapest Way To Shut Your Business
Get an instant on-screen indication to the suitable route to shutting down your business.
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Company Closure.
We have years of experience helping directors find the best way of closing their business.
Advantages Of Voluntary Liquidation
Keep more control - close your company on your terms
Gives directors a clean break
Allows you to close a potentially insolvent company with no further liability (unless debts have been personally guaranteed).
Quick and cost effective
Can be funded using company assets such as cash at bank, sale of assets, book debts etc.
Your duties as a director
It shows creditors you have done the right thing by taking professional advice and can steer you away from the implications of wrongful trading.
Claim redundancy payments
Employees and potentially directors can make a claim from the National Insurance Fund and receive payments for outstanding wages, holiday pay, pay in lieu of notice and redundancy.
3 Ways To Close A Company
Dissolution
If your company is -
- Inactive, or
- Solvent with assets of less than £25,000, or
- Insolvent with creditors unlikely to object,
- then dissolution is usually suitable and typically costs a few hundred pounds.
learn moreMembers Voluntary Liquidation (MVL)
If your company is solvent with assets over £25,000, then a Members’ Voluntary Liquidation is probably best.
This enables proceeds to be taken as capital gains tax rather than income tax - so it can be the overall most cost-efficient exit route.
learn moreCreditors Voluntary Liquidation (CVL)
If your company has creditors who are likely to object to a dissolution then a Creditors’ Voluntary Liquidation, which is initiated by directors, is usually most suitable.
Redundancy Payments may be claimable from the National Insurance fund.
Please contact us for your personal quote.