Liquidation can only be carried out by a licensed IP, so where should you look for an appropriately qualified individual or insolvency firm to help you? Word-of-mouth recommendations are usually very helpful, and your accountant or legal adviser may have knowledge in this respect.
UK Liquidators are the UK’s largest liquidation company and have more than 25 years’ experience of helping directors voluntarily close down their limited companies.
Ask your accountant or legal adviser
Given their role within your company, your accountant might be aware of a firm of insolvency practitioners in your area that could help. The fact that you have to liquidate might mean that you don’t want to ask your accountant, however.
You may not wish to speak to them about the matter if you feel their advice or actions led to the company’s financial decline in some way, but if you have regular dealings with a legal adviser and you trust their judgement, this could be another source of recommendations.
Concerned about National Living Wage and NI increases?
With the rates of both National Living Wage and employer National Insurance Contributions increasing in recent years, this additional cost of employing staff has added more pressure onto already squeezed cash flows. If you are worried about the impact this is having on your company's finances, talk to the experts at UK Liquidators. As licensed insolvency practitioners we can explain your options and help you plot a way forward. Call today on 0808 253 9878.
Enquire with your local Chamber of Commerce
Local insolvency practitioners may be members of your local Chamber of Commerce, which is often a reliable source of referrals for business owners. In fact, if you attend networking meetings or other events locally yourself, one of your peers or other businesses might also be able to help.
Chambers of Commerce can be a valuable source of recommendations given their role in the business community, and you can further assess the quality of their referrals by meeting the recommended individuals in person.
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The internet has become the ‘go to’ source of information, and can provide a multitude of leads when you’re looking for a liquidator near you. A straightforward search for licensed insolvency practitioners in your area will uncover many possibilities, but it’s important to research each one carefully before proceeding.
Only insolvency practitioners who are licensed can undertake formal procedures such as voluntary liquidations, so this is the first search criteria. ‘Insolvency practitioner’ isn’t a protected term, and anyone can advertise their services as such.
When an IP becomes licensed it means they’ve passed stringent examinations, undergone extensive training, and have relevant experience, in comparison with a non-licensed IP who may simply advertise as an insolvency ‘expert.’ In reality, they could simply take your details and charge you for a referral to a licensed IP.
Start your online liquidation today
If you have decided liquidation is the right option for your limited company, you can take the first step and begin the process online using our online portal. Starting the process is quick, simple, and can be done at a time that suits you. Your information will be submitted to your local UK Liquidators insolvency practitioner who will be with you every step of the way. Click here to start your company’s liquidation online.
This is an important issue as it offers you more control over the process, so it’s worthwhile taking time to read through an insolvency firm’s website to obtain an idea of their expertise and previous industry experience.
It’s a good idea to search for an IP or firm that offers you an in-person meeting rather than simply communicating via email and phone – it’ll help you assess whether they’re right for you.
Insolvency & Restructuring Expert | 20+ Years Insolvency Experience
Jonathan is a Partner at Real Business Rescue and member of both the Insolvency Practitioners Association (MIPA) and The Association of Business Recovery Professionals (MABRP). Jonathan has over 20 years’ experience guiding directors through CVL and MVL processes, helping them understand their options and navigate financial distress with clarity and compassion.
IPA Member MABRP Member IPA Regulated
“ Directors often wait too long before seeking advice. The earlier you call, the more options remain available to you — and the better the outcome for everyone involved. ”
Jonathan is a Partner at Real Business Rescue and member of both the Insolvency Practitioners Association (MIPA) and The Association of Business Recovery Professionals (MABRP). Jonathan has over 20 years’ experience guiding directors through CVL and MVL processes, helping them understand their options and navigate financial distress with clarity and compassion.
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