Company directors have contacted us because of problems they have experienced when they tried to dissolve their companies.
The companies had ceased trading – in one case 3 years earlier. However, the Revenue had objected to the companies being dissolved because they were still owed money. In one case the amount owing to the Revenue was a relatively small sum of £1,500.
Having discussed the situation with their Accountant and with us, it was agreed that the best option was for the directors to have their company formally liquidated using the Creditors’ Voluntary Liquidation (CVL) process.
The fee we charge for a ‘Basic CVL’ like these is just £1,995 (all inclusive). For this very affordable fee, company directors can get the matter dealt once and for all, with a solution that:
- deals with the business debts of the company
- ensures that all the directors’ legal obligations are met; and
- gives directors peace of mind, with the comfort that nothing is going to ‘come back to haunt them’.
Dissolving a company is the best solution if the circumstances are right.
However, it is not the best way to close down a company which still has a creditor (i.e. has business debts). Company dissolution should not be used as a ‘sneaky’ way of trying to avoid paying your creditors. If this is the ‘cunning plan’, the company directors end up ‘looking over their shoulder’ in the knowledge that they haven’t really dealt with the matter. An objection could well be forthcoming which will re-open the whole matter.
For peace of mind and to meet all your legal obligations as a director of a limited company, Clarke Bell’s £1,995 CVL option provides the ideal solution at a very affordable price.
If you’d like to discuss your company’s situation and get (free) professional advice, just contact us on 0161 907 4044 or [email protected]