What is Liquidation?

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What does the term liquidation mean?

Liquidation is a process in which limited companies enter in order to dissolve effectively. The company can be either solvent or insolvent and does not need to have traded for a certain period of time. Only a Licensed Insolvency Practitioner can be appointed on a formal liquidation process.

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When would I require a liquidation process?

If your company is insolvent then you would require a liquidation process as soon as you are aware that the company cannot be rescued from its suffering with insolvency.

If your company is solvent then you would require a liquidation process when you believe it has come to the end of its natural life and you are ready for it to be dissolved.

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What is a solvent liquidation?

A solvent liquidation process would be a Members’ Voluntary Liquidation (MVL). This process is a tax effective route to enter if shareholder funds are above £25,000.

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What is an insolvent liquidation?

An insolvent liquidation process would be either a Creditors’ Voluntary Liquidation (CVL) or a Compulsory Liquidation. The CVL route is a director-led process whereas the Compulsory route is a court-led process.

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