Written by Jonathan Munnery, Insolvency & Restructuring Expert | Last updated: 16 June 2025 | Reading time: 3 mins
At UK Liquidators, our team of licensed Insolvency Practitioners has supported over 25,000 company directors just like you. You can call us for a free consultation or arrange a meeting at one of our UK offices. We will assess your situation, discuss the options available and advise you on the best route forward.
Where can I get free insolvency advice for my business?
At UK Liquidators, our team of licensed insolvency practitioners can provide insolvency advice to company directors. Be aware that there are some unlicensed and unqualified advisers in this field, so always do your due diligence before writing an email or picking up the phone to ensure you are speaking to a form of licensed insolvency practitioners
If you are worried your business could be insolvent, the best sources of advice are:
Your accountant
This is usually a solid starting point. Few company accountants are experts in insolvency, but most will know the basics and be able to give you detailed information about the business’s financial health. They may also be able to recommend an insolvency specialist they trust or have worked with previously. The downside is that they usually charge for their time, so any advice they give you is unlikely to be free.
Business debt charities
There are charities out there, such as Business Debt line, Money Advice Trust and The Debt Advice Foundation, that you can contact for free insolvency advice that’s tailored to your circumstances. You can speak to them by webchat, phone and email and benefit from their knowledge, experience and resources.
They will be able to guide you on everything from business rescue methods to how to deal with creditor threats and legal action. However, they cannot put formal insolvency procedures in place. That’s something only a licensed Insolvency Practitioner can do.
Licensed Insolvency Practitioners
Even if you approach your accountant or a business debt charity first, if your company is insolvent, you should make it a priority to speak to a licensed Insolvency Practitioner. They are qualified professionals and are closely regulated, so you can trust the guidance they give you.
They are the only people who can enter your company into a formal insolvency procedure, such as a Company Voluntary Arrangement or Creditors’ Voluntary Liquidation, and they can act on your behalf when negotiating an HMRC Time to Pay arrangement. Although there will be a charge for the work involved in entering a procedure, the initial advice most reputable Insolvency Practitioners give you is free.
Why do I need insolvency advice if my business is struggling?
Your legal duties as a company director change when your business becomes insolvent. You must protect your creditors’ interests by communicating with them and taking steps to minimise the amount you owe. An Insolvency Practitioner will be able to establish the financial status of your business beyond doubt and advise you on the steps you can take to fulfil your duty to your creditors. That will help you avoid serious repercussions, such as fines, personal liability for company debts and director disqualification.
As well as advising and guiding you, a licensed Insolvency Practitioner can also implement formal insolvency procedures and act on your behalf as a liquidator, administrator, or the nominee and supervisor of a CVA.
How UK Liquidators can help
At UK Liquidators, our licensed and experienced Insolvency Practitioners provide free insolvency and liquidation advice to businesses large and small across every sector. Whether you want guidance on closing a company with HMRC debts, would like to know when is the right time to cease trading or want to discuss your eligibility for director redundancy pay, we are perfectly placed to help.
Please get in touch for a free, same-day consultation or arrange a meeting at one of our offices throughout the UK.
