Should I use a Members’ Voluntary Liquidation (MVL) to close my company?
A Members’ Voluntary Liquidation (MVL) is a process that allows the directors of a solvent company to voluntarily liquidate their limited company to extract the profits from it. Like other liquidations, in an MVL…
What is company liquidation?
Liquidation options and what they mean for your company If you’re a company director or shareholder thinking about closing your business, liquidation is one way to do this. Here we discuss what liquidation is,…
Does liquidation mean closing?
Liquidation is the process of winding up your company’s affairs and closing it. It involves selling off your company’s assets and using the proceeds to pay off debts if possible. If there’s any remaining…
What happens to a director of a company in liquidation?
As a company director, there are many questions that may arise when you’re looking to liquidate your company, whether it’s in good financial health or not. Not least what happens to a director of…
What happens if you can’t make your CBILS repayments?
The Coronavirus Business Interruption Loan Scheme (CBILS) provided much-needed financial support for businesses. Through the scheme, accredited lenders provided loans of up to £5 million for smaller businesses, with the Government promising to cover…
What to do if you can’t pay staff wages
You might be surprised to learn that it’s not uncommon for a business owner to find himself or herself in a difficult financial situation, unable to meet the obligations of paying employees’ wages. This…
How do you liquidate a company with no assets?
Whether due to financial difficulties, a change in business strategy or simply because you want to ‘shut up shop’, liquidation is often chosen to close a company. Liquidation is the process of closing down…