If you are a director of a company that is insolvent (i.e. it cannot pay its bills when they are due) you should speak to an Insolvency Practitioner for their specialist advice.
However, many people think that Insolvency Practitioners are very expensive and that they won’t be able to afford to use them.
This is not the case, however.
Being a director of an insolvent company can be incredibly stressful and the matter can be made worse trying to find the fees to pay for the professional help you need at this time – especially given that your company is having cashflow difficulties. Many Insolvency Practitioners will charge anywhere between £4,000 and £10,000 + VAT for a Creditors’ Voluntary Liquidation (CVL).
There is an affordable option though.
Clarke Bell are Insolvency Practitioners with a very cost-effective liquidation service which starts from £1,995 (including VAT + disbursements) for a CVL.
The Cost of a Creditors’ Voluntary Liquidation at Clarke Bell
We have two separate pricing structures to make it incredibly easy and transparent to work out the costs associated with dealing with your insolvent company.
A basic Creditors’ Voluntary Liquidation (CVL) is for when a company has no assets, no employees and up to 10 creditors (including HMRC) and costs £1,995 (including VAT and disbursements).
For more complex liquidations we work on a case-by-case basis. In a lot of these types of liquidations, the cost can be met from the sale of the assets.
Here at Clarke Bell, we also provide free, no obligation initial advice to find the best course of action for you and your company.
As you can see from our pricing, we are significantly cheaper than other Insolvency Practitioners. This makes us a much more viable option for companies which are experiencing financial difficulties and need to close their insolvent company.
We will help you to ensure that you fulfil all your legal obligations within the CVL process.
What is the next step?
If you need an affordable Licensed Insolvency Practitioner, contact Clarke Bell for your free advice. We can discuss your situation and advise you on the best option for you to take.
Contact us on 0161 907 4044 / [email protected]