Posted on: Wednesday 27th January, 2021
When your company enters insolvency and you fear liquidation may be the only option, it’s important to obtain advice from a licensed insolvency practitioner (IP). Only licensed IPs are able to carry out formal liquidation processes, and you’ll be able to obtain a free quote for company liquidation from reliable professionals.
With so many non-licensed and non-regulated insolvency advisers offering advice and free quotes online for company liquidation, it’s easy to approach the wrong person or firm, however.
Securing reliable professional guidance ensures you meet your statutory obligations as a company director, and avoid accusations of wrongful trading. So what might company liquidation cost, and how do you obtain a free quote from licensed insolvency practitioners with wide industry experience?
Company liquidation is a formal procedure and attracts professional fees, but the nature of a company’s affairs also dictates the ultimate cost. For businesses with relatively few assets and straightforward affairs, for example, the cost of liquidation can be low compared with larger businesses.
It’s also important to know that you might be able to fund the cost of liquidation by claiming director redundancy pay. The average claim is £9,000, which could cover the professional fees and also potentially repay some of the company’s debt.
It’s easy to fall foul of strict insolvency laws in the UK, however unwittingly, and one critical factor is putting the interests of creditors first. So how do you get a free quote for company liquidation from a firm you can trust, and ensure you don’t increase your risk of disqualification and personal liability as a director?
Our sister company, UK Liquidators, is the largest liquidations firm in the UK, and offers free quotes for directors who need to liquidate their company. You can obtain immediate support by contacting the partner-led team who will provide confidential advice on your specific situation.
The website also offers further information on the company liquidation process, the potential implications for directors, and the advantages of placing your company into liquidation voluntarily rather than waiting for creditor legal action.
This is an important element of company liquidation, as waiting for a winding up petition exposes you to the possibility of serious allegations and personal liability for some or all of the company’s debts.
Redundancy Claims UK specialises in director redundancy following company liquidation, and can establish whether you’re eligible to claim statutory redundancy. Securing redundancy pay as a director can be critical in enabling you to liquidate your company voluntarily, and minimise the risk of misconduct allegations.
To date, our largest successful claim is more than £22,000, and our expert team is ready to help you move forward. We offer free same-day consultations in addition to free quotations, so please contact us to find out more - we operate from a network of offices around the country.
Does accepting a new job offer before the date of redundancy prevent a director making a claim for redundancy to the RPS
If you are looking to close your limited company, you may have attempted to strike it off by submitting a DS01 form to Companies House. This process is also sometimes referred to as dissolving or company dissolution.
A Creditors’ Voluntary Liquidation (CVL) is an official procedure whereby a company’s assets are liquidated in order to pay creditors. It’s typically initiated by directors when their company becomes insolvent and there is no hope of business recovery.
Redundancy claims are a very professional company, Caroline who is dealing with our case is friendly, compassionate and very clear in explaining everything during this difficult time. The service we have received has been amazing, Thank you.Tina Hill Director of a professional services firm