limited company insolvency?

Question

I run a small business, which will have to cease trading soon.I have approached an Insolvency Practitioner to handle the process, however, he has quoted a charge of 5k to do this. The fee will be paid from the sale of the companies assets. I would like to know if i can liquidate the company without him, saving myself the fee?

alexcn · Accepted Answer

You need the services of an insolvency practioner, and the 5k charge is quite reasonable.  It depends on whether you just want to liquidate, or you have debts: if the latter then yes you can do it yourself by just applying to the companies house to have it struck off.

! · Answer

There's some helpful info on Companies House's website:

http://www.companieshouse.gov.uk/infoAndGuide/windingUpCompany.shtml

Go down the page and there are various links which will help in this least happy of tasks.

trurider t · Answer

Yes, you can but its a complicated business as there are rules to be followed. try getting a book on the subject from Amazon.

Trending News

limited company insolvency?

3 Answers