Harrogate Company Insolvency Help
Welcome to the Harrogate office of UK Liquidators, operated by a renowned team of licensed insolvency practitioners, company liquidation and restructuring specialists. We offer a free consultation to company directors across Harrogate to help determine the most efficient route through which to close a limited company.
If your company is in serious debt and cannot afford to make repayments, creditors may launch legal action against your company to recover funds owed. If you receive a winding up petition, your company may be placed into compulsory liquidation which is the most common company liquidation procedure.
To voluntarily close your limited company, you may enter a Creditors’ Voluntary Liquidation (CVL). A CVL is a formal insolvency procedure administered by a licensed insolvency practitioner and consists of raising funds to settle creditor debts. The company will subsequently be closed and removed from the Companies House register. As a company director, you must act in the best interests of creditors and seek professional support if you believe that your business is insolvent.
Worried about your Bounce Back Loan?
If you are a limited company director worried about how you are going to repay your Bounce Back Loan, we are here to help. As licensed insolvency practitioners we can talk you through your options when it comes to repaying your outstanding Bounce Back Loan, as well as handling all negotiations with creditors on your behalf. Call our team today on 0800 063 9262 .
If you wish to voluntarily close a solvent limited company, enter a Members’ Voluntary Liquidation (MVL) under the guidance of a licensed insolvency practitioner. During the MVL process, all remaining profits will be extracted and cost-effectively distributed to shareholders. You may also be able to reduce your tax liability to 10% if you are eligible for Business Asset Disposal Relief (Entrepreneurs Relief).
Speak to a local licensed insolvency practitioner in Harrogate to establish the right liquidation route for your company. We also have nearby offices in York, Leeds and Scarborough.
