Our Wakefield Office - Insolvency Practitioners

The Wakefield office of UK Liquidators is operated by a partner-led team specialising in company liquidation and business recovery. If you are considering closing your limited company, get in touch with our Wakefield office which serves the wider Yorkshire region. Our advisors will assess business viability to confirm whether your company can be rescued or should pursue liquidation. We offer a free consultation to company directors to help determine the options available.

If you owe funds to creditors and can no longer meet essential payments, your business may be insolvent and therefore exposed to legal action from creditors. As a final resort, creditors may threaten you with business closure by issuing a winding up petition. If a winding up order is granted by the court, this could result in compulsory liquidation.

Making the voluntary decision to close your limited company could be fuelled by the debt build-up and pressure from creditors. A Creditors’ Voluntary Liquidation (CVL) is a liquidation procedure conducted by a licensed insolvency practitioner to voluntary close your limited company. During the process, funds will be raised to repay creditors. Any remaining debts may be written off and the business will then be closed and removed from the Companies House register.

If you are closing a solvent limited company, this can be executed through a Members’ Voluntary Liquidation (MVL) procedure. Overseen by a licensed insolvency practitioner, the route allows you to distribute funds in a tax-efficient manner and you may also be eligible for Business Asset Disposal Relief, formerly Entrepreneurs’ Relief.

For first-hand support from local experts in Wakefield, contact our office for a free consultation. We also have nearby offices across Yorkshire and Humberside.