Company Liquidation Advice
Contact us today for a free, no-obligation consultation with a licensed insolvency practitionerAt Fast Insolvency, we specialise in providing clear, confidential, and low-cost company liquidation advice for directors across the UK.
Whether your business is insolvent or struggling to pay its debts, we guide you through the legal and financial process of voluntary or compulsory liquidation.
We handle everything from initial consultation through to company closure, ensuring compliance, transparency, and minimal stress for directors.
Contact us today for a free, no-obligation consultation with a licensed insolvency practitioner.
What Is Company Liquidation in ?
Company liquidation refers to the formal process of closing a limited company by selling its assets to pay off creditors.
There are two main types of liquidation: voluntary (initiated by the directors) and compulsory (initiated by creditors through a court order). The company is legally dissolved at the end of the process.
When Should a Company Consider Liquidation in ?
A company should consider liquidation when it is unable to pay its debts as they become due or when its liabilities exceed its assets.
Liquidation may also be appropriate if the business is no longer viable, trading has ceased, or the directors want to exit in a structured and lawful way.
What Are the Different Types of Company Liquidation in ?
There are three main types of company liquidation options:
Creditors’ Voluntary Liquidation (CVL): For insolvent companies, initiated by directors
Compulsory Liquidation: Forced through the courts by creditors via a winding-up petition
Members’ Voluntary Liquidation (MVL): For solvent companies that wish to close in a tax-efficient way
What Are the Director's Responsibilities During Liquidation in ?
Directors must cooperate fully with the appointed liquidator, preserve the company's records, and avoid engaging in wrongful or fraudulent trading in .
They must stop trading immediately once liquidation is confirmed and ensure the company does not take on new debts.
Can I Choose My Own Liquidator in ?
In a Creditors' Voluntary Liquidation (CVL), directors can nominate a licensed insolvency practitioner.
However, in a compulsory liquidation, the Official Receiver or court may appoint one.
How Much Does Company Liquidation Cost in ?
The cost of liquidation in starts from around £3,000 to £5,000.
The cost depends on the size and complexity of the business.
At Fast Insolvency, we offer fixed-fee packages with no hidden costs and flexible payment options.
What Are the Benefits of Voluntary Liquidation in ?
Voluntary liquidation allows directors to take control of the closure process, reduce creditor pressure, and fulfil legal obligations.
It’s often less stressful than court-enforced winding-up and can prevent further losses.
Key benefits include:
A director-led process that allows you to appoint your own licensed insolvency practitioner
Stops legal action from creditors, including winding-up petitions and bailiff visits
Reduces personal risk by ensuring directors meet legal duties and avoid wrongful trading
Clears unaffordable debts, including trade creditors, tax liabilities, and loan agreements
Enables redundancy claims for directors and employees through the Redundancy Payments Service
Faster resolution compared to compulsory liquidation, with fewer court delays
Protects reputation by showing a proactive approach to company insolvency
Fixed-fee options provide cost certainty and reduce stress during closure
Will I Be Held Personally Liable for Company Debts?
In most cases, directors are not personally liable for company debts unless they’ve given a personal guarantee or acted unlawfully.
Wrongful trading, fraud, or misuse of funds may result in personal liability.
How Long Does the Liquidation Process Take?
Creditors’ Voluntary Liquidation usually takes between 6 to 12 months in , though the initial appointment of a liquidator can be arranged within days.
Asset realisation and creditor distribution timelines vary based on complexity.
What Happens to Employees During Liquidation?
Employees are automatically made redundant, but may be entitled to statutory redundancy, unpaid wages, and holiday pay from the government’s Redundancy Payments Service (RPS).
The liquidator handles all employee-related matters and communications.
Will Liquidation Affect My Credit or Future Business?
Liquidation affects the company, not your personal credit score in , unless personal guarantees or misconduct are involved.
You may be restricted from becoming a director of another company in cases of wrongdoing or disqualification.
Can I Start a New Company After Liquidation?
You can start a new company unless disqualified by the Insolvency Service.
There are legal restrictions on reusing the same company name unless specific rules (under Section 216 of the Insolvency Act 1986) are followed.
Is Liquidation the Same as Administration?
Liquidation ends the life of the company, while administration aims to rescue or restructure it.
Liquidation is final; administration can sometimes lead to recovery or sale of the business as a going concern.
What Documents Are Required for Liquidation?
You will need to provide:
A recent balance sheet and statement of affairs in
The company’s financial records in
Details of assets and liabilities in
Copies of contracts, leases, and employee information in
Our team helps prepare all necessary documents to ensure a smooth process.
Get Free Company Liquidation Advice Today
If your business is in trouble, don’t wait for court action or creditor pressure.
We offer straightforward, confidential, and cost-effective liquidation advice in with full support from licensed insolvency practitioners.
Contact Fast Insolvency now for free advice and a same-day quote from a qualified professional. We're here to help you close your company the right way.