Our Barnstaple Office - Insolvency Practitioners Low-Cost Limited Company Insolvency Experts

The UK Liquidators office in Barnstaple supports company directors searching for advice on how to best close a limited company to maximise returns and protect creditor interests. Our licensed insolvency practitioners in Barnstaple can advise you on company liquidation options for both solvent and insolvent companies, and formal restructuring solutions if your business can be rescued.

If you are experiencing cash flow problems and can no longer afford to pay creditors, your business may be at serious risk of facing legal action. If creditors fail to recover funds owed, they may issue a winding up petition to force your business into compulsory liquidation. If you have received a winding up petition, seek immediate advice to voluntarily enter liquidation on your own terms.

A Creditors’ Voluntary Liquidation, also known as a CVL, is a formal insolvency procedure used to voluntarily liquidate an insolvent company under the guidance of a licensed insolvency practitioner. During a CVL, assets will be liquidated to raise funds for creditors and any remaining debts will be written off. Your company will then be closed and removed from the Companies House register.

A Members’ Voluntary Liquidation (MVL) is a formal insolvency procedure used to close a solvent limited company that is cash-rich. For this route to be cost-efficient, your business should typically have £25,000 or more in retained profits. You may also qualify for Business Asset Disposal Relief, formerly Entrepreneurs’ Relief.

Our licensed insolvency practitioners in Barnstaple offer a free consultation and can help you make an informed decision about the closure of your company.