Rochdale Company Insolvency Help
The Rochdale office of UK Liquidators is part of our wider support network for company directors looking to explore company liquidation options. Our licensed insolvency practitioners are on hand to advise on both solvent and insolvent liquidation procedures and offer a free consultation to businesses across Rochdale.
The most common company liquidation route is compulsory liquidation. A creditor may petition to wind up your company as a final attempt to recover funds owed. If you receive a winding up petition, seek urgent advice from an insolvency specialist or your company could be forced into liquidation.
As a company director, it is your responsibility to act in the best interests of creditors and maximise returns. Enter an insolvent company liquidation procedure on your own terms for more control over the closure process. A Creditors’ Voluntary Liquidation (CVL) is a formal liquidation process for insolvent companies, administered by a licensed insolvency practitioner. During a CVL, the liquidator will convert assets into cash to raise money for creditors. Once outstanding company affairs have been settled, the company will be closed and removed from the Companies House register.
Worried about your Bounce Back Loan?
If you are a limited company director worried about how you are going to repay your Bounce Back Loan, we are here to help. As licensed insolvency practitioners we can talk you through your options when it comes to repaying your outstanding Bounce Back Loan, as well as handling all negotiations with creditors on your behalf. Call our team today on 0800 063 9262 .
To close a solvent limited company, a Members’ Voluntary Liquidation (MVL) is often the preferred route for businesses with retained profits of £25,000 or more. Distributions will be treated as capital and therefore subject to Capital Gains Tax. You may also qualify for Business Asset Disposal Relief, previously known as Entrepreneurs Relief, which will reduce your tax liability to 10%.
Speak to a licensed insolvency practitioner at our Rochdale office for advice on how to liquidate your company cost-effectively.
