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There are several ways in which to close your company.
There are several ways in which to close your company and it is important to determine which is the most appropriate course of action for you.
One of the most important factors to consider is whether your company is solvent or insolvent.
If your company is solvent then the following options are available to you depending on the value of the company’s assets:
If your company is insolvent the company can still be closed but must do so through a formal insolvency procedure:
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A compulsory liquidation is a liquidation which is ordered by the Court.
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A creditor's voluntary liquidation (CVL) is the formal process of closing an insolvent company.
Dissolution is when the company is when an application is made to Companies House to strike the company off the register.
A Members Voluntary Arrangement (MVL) is a liquidation of a solvent company.
07 Apr 2025
Increases to the National Living Wage and National Minimum Wage took effect from 1 April.
Chancellor Rachel Reeves announced 'no further tax increases' in the 2025 Spring Statement.