Company Voluntary Arrangement (CVA)
Request a free quote from our licensed Company Voluntary Arrangement (CVA) practitioners todaydertggyAt Fast Insolvency, we provide clear, low-cost company liquidation advice to directors across the UK.
Whether you're facing pressure from creditors in , experiencing cash flow issues, or need to close your limited company properly, we guide you through every step of the liquidation process with expert, confidential support.
We offer affordable, confidential, and practical company liquidation advice in .
Get a free consultation today to explore your options and protect your position as a company director.
What Is Company Liquidation?
Company liquidation is the formal process of closing a limited company by selling its assets and using the funds to pay creditors.
There are two main types: voluntary liquidation in , where directors initiate the process, and compulsory liquidation, where the company is wound up by court order due to unpaid debts.
When Should I Consider Liquidation?
Liquidation should be considered if your company can no longer pay its debts when due, or if liabilities outweigh assets in .
It’s also appropriate when the business is no longer viable, trading has ceased, or directors want a legally compliant exit strategy.
What Are the Main Types of Liquidation?
There are three key types:
Creditors’ Voluntary Liquidation (CVL) in : Used when the company is insolvent and cannot pay its debts.
Compulsory Liquidation in : Initiated by a creditor via a winding-up petition.
Members’ Voluntary Liquidation (MVL) in : For solvent companies that wish to close tax-efficiently.
What Are My Responsibilities as a Director?
You must stop trading once insolvency is identified and avoid taking on further credit.
You’re legally required to preserve company records, cooperate with the insolvency practitioner, and act in the best interests of creditors.
Can I Choose My Own Liquidator?
In a Creditors' Voluntary Liquidation, you can nominate a licensed insolvency practitioner.
In compulsory liquidation, the Official Receiver or court may appoint a practitioner instead.
How Much Does Company Liquidation Cost?
Liquidation costs between £3,000 and £5,000 in .
The cost depends on company size, complexity, and asset values.
At Fast Insolvency, we offer fixed-fee liquidation packages with flexible payment options and no hidden charges.
Am I Personally Liable for Company Debts?
Directors are usually not personally liable for company debts unless they’ve signed personal guarantees or acted unlawfully.
Misconduct such as wrongful trading or fraud may result in personal liability or disqualification.
How Long Does Liquidation Take?
A Creditors’ Voluntary Liquidation can be initiated within days and typically concludes in 6 to 12 months.
The timeline depends on asset realisation, creditor claims, and the complexity of the company’s affairs.
What Happens to Employees?
Employees are automatically made redundant in , and they may be eligible to claim redundancy pay, wages, and holiday pay from the Redundancy Payments Service.
The insolvency practitioner manages all employee-related matters.
Will Liquidation Affect My Credit or Reputation?
Liquidation affects the company, not your personal credit score in .
If misconduct is found, it could affect your ability to act as a director in future companies.
Can I Start a New Company?
You must follow rules around reusing the same company name in , as set out in Section 216 of the Insolvency Act 1986 in .
You must also not engage in fraudulent trading or mislead creditors.
What’s the Difference Between Liquidation and Administration?
Liquidation in permanently ends the company, while administration is used to temporarily protect a business with the aim of recovery or sale.
Administration may be used to rescue a business, whereas liquidation focuses on asset distribution and closure.
What Documents Are Needed to Start Liquidation?
You’ll need to provide a statement of affairs in , latest accounts, creditor details, and a full list of assets and liabilities.
Our team helps prepare all necessary paperwork for submission to the liquidator and Companies House.
What Are the Benefits of Voluntary Liquidation?
Voluntary liquidation provides a structured and director-led route for closing an insolvent company.
Key benefits include:
Appointing your own licensed insolvency practitioner in
Halting legal action from creditors
Reducing personal risk by following legal obligations in
Allowing directors to claim redundancy pay in
Fixed-fee options with full cost transparency
Preserving professional integrity through early action
Get Free Company Liquidation Advice Today
If your business is insolvent or facing creditor pressure, early advice is critical.
Our team of licensed professionals handles every detail, ensuring you meet legal obligations, protect your interests, and resolve business debts with clarity and support.
Contact Fast Insolvency now to receive free, expert guidance from a trusted advisor and take control of your company's future.