What happens once my company is in Liquidation?

• Once the company enters into liquidation our team will manage your case through to its closure
• We will notify HMRC, the bank, all other creditors and any other parties required and deal with any calls or queries these parties may have.
• We will process all your employees’ claims to ensure that any payments from the government to be made for redundancy and other claim are made in a timely manner.
• We will deal with any company assets and arrange for these to be sold and any funds held for distributing to creditors in statutory order.
• The Liquidator will also take control of the company’s’ books and records and will review these as part of his report of the directors’ conduct
• Within three months of the date of liquidation, we will file our report on the conduict of the directors The Department for Business Energy and Industrial Strategy.
• Once the assets are sold if there are funds for creditors, we will agree their claims and make payments to creditors.
• If there are no funds for creditors, the liquidation should be expected to be complete within around six months.
• We will file the final returns with Companies House to ensure your company is dissolved at the end of the process.

The process can seem complicated when you’re already facing a stressful situation, but we are here to guide you through the process. For further liquidation advice and support or to arrange a free no, obligation confidential consultation then please contact us on 03332027387

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