Aberystwyth Company Insolvency Help
The Aberystwyth office of UK Liquidators is operated by a team of licensed insolvency practitioners and company rescue experts dedicated to supporting company directors throughout the company liquidation process.
Many businesses are often forced into company liquidation due to legal action taken by creditors, this is known as compulsory liquidation. If a creditor is unable to recover monies owed, they may launch a winding up petition if they suspect that your business is insolvent. If this is supported by the courts, a winding up order will be issued to forcibly close your business.
As a company director, it is your responsibility to seek immediate advice to protect creditor interests if you believe that your business is insolvent. You can voluntarily liquidate your business under the guidance of a licensed insolvency practitioner through a Creditors’ Voluntary Liquidation (CVL). During a CVL, the liquidator will convert assets into cash to raise funds for creditors. Once the debts of the company have been settled, the company will be closed and removed from the Companies House register.
To close a solvent limited company cost-effectively, a Members’ Voluntary Liquidation (MVL) is often a suitable solution through which this can be achieved. Retained profits will be treated as capital, rather than income, and therefore subject to Capital Gains Tax. You can reduce your tax liability further if you qualify for Business Asset Disposal Relief.
We offer a free consultation to company directors across Aberystwyth looking to close their limited company. In addition to our office in Aberystwyth, we also have offices across Wales in Llandudno, Newport and Swansea.
