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Thousands of directors make the decision to close their limited companies each year. Whether you no longer have a use for the business, are looking to retire, or no longer see a sustainable future for the company, there are many factors to take into consideration when closing a company, including how much it will cost.…

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A Creditors’ Voluntary Liquidation (CVL) allows a company director(s) to close their insolvent business when it is no longer feasible, whether this is because it can’t pay its bills and debts or its liabilities outweigh its assets. Initiated by the director(s), this is a process that stops the company trading and liquidates its assets in…

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14 May 2021

There are different types of liquidation, including solvent liquidation / Members’ Voluntary Liquidation (MVL) and insolvent liquidations which includes compulsory liquidation and Creditors’ Voluntary Liquidation (CVL). Although these all end with a company being liquidated and dissolved, they are very different processes. To determine which option is right for your company, you will need to…

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11 March 2021

As the name suggests, voluntary liquidation takes place when a director chooses to close their company and place it into liquidation. Unlike compulsory liquidation, this is a completely voluntary process that is initiated by the director. Voluntary liquidation is a means of closing a company which still has assets and liabilities to be dealt with.…

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23 February 2021

Voluntary liquidation occurs when a company director chooses to wind-up and dissolve their company. Unlike in the case of compulsory liquidation, this is a completely voluntary process initiated by a company director that must be approved by its shareholders. The outcome of voluntary liquidation is that the company ceases to trade, its finances are wrapped…

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