In liquidating

Once the company is “in liquidation” the directors have to fill out a questionnaire for the liquidator our online data collection service makes this easier also we can convert Sage files into our system.

The directors then provide all of the company’s books and records to the liquidator. You must not trade with a similar name as the previously liquidated company without careful legal advice or leave of the court. Don’t worry, you can be a director of another company (remember s216 above).

He or she runs the liquidation, fills out all the forms, calls all meetings and investigates the conduct of the directors before the liquidation. He then works out the debts and pays the creditors from the assets, if there were any.

We can help you stop those creditor calls and worries, end those sleepless nights and ultimately help you, as directors, get on with your life.

Why not download our in office hours 8.30am till 5.00pm.

It is worth noting, if as a director you have been compliant and on the payroll for many years, you can actually claim redundancy from the government like any other employee. So for example Fox and Hound Building Company Limited goes into liquidation and then you start another company called Hound and Fox Buildings Limited.

This can be a criminal offence and if the second company fails you would have NO PROTECTION and be held liable for the debts of that second failed company. You can liquidate a limited company and start the same business again, but only under strict rules and conditions as above.

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