Expert Company LiquidatorsServing Attleborough Businesses

The cost varies depending on the complexity of your company's affairs, asset values, and the number of creditors. Creditors' voluntary liquidation often costs between £4,000 and £8,000 plus VAT, but a licensed practitioner will provide a fixed fee quote after an initial assessment.

A straightforward creditors' voluntary liquidation can be completed in six to twelve months, but complex cases with asset sales or legal disputes may take longer. The liquidator must finalise accounts, distribute funds, and apply for dissolution, which typically adds several months.

Yes, but you must act in the best interests of creditors and avoid wrongful trading. Continuing to incur debts when you know the company cannot pay them can lead to personal liability. Speak with a licensed professional before making any significant financial decisions.

Alternatives include administration, company voluntary arrangement (CVA), or informal arrangements with creditors. Each has different outcomes for the company and directors. A licensed practitioner can assess your viability and recommend the most appropriate solution based on your specific circumstances.

Generally, no, if you have acted lawfully and not given personal guarantees. However, if wrongful trading, fraudulent trading, or misfeasance is found, directors can be held personally liable. A licensed liquidator will investigate your conduct and report any issues.

Employees are made redundant when liquidation begins. They may be entitled to statutory redundancy pay, notice pay, and holiday pay, which can be claimed from the National Insurance Fund. The liquidator will provide the necessary forms and guidance to affected staff.

Yes, but you may need to fund the liquidation costs personally or through a director's loan. If there are no assets and no funds, the company may be struck off the register instead, which is a cheaper process, but it does not write off debts.

Look for a practitioner who is authorised by a recognised professional body, such as the Insolvency Practitioners Association. Check their experience with similar cases and ask for a clear fee structure. You can also verify their licence through the regulatory body's website.

You will need to provide financial statements, bank statements, tax returns, details of assets and liabilities, and a list of creditors. The liquidator will also require information about any director loans or transactions with connected parties.

Yes, you can start a new company, but there are restrictions. If you have been a director of a company that went into insolvent liquidation, you may be subject to a disqualification order or undertaking. You must also avoid using a similar name to the liquidated company without court permission.