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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.
06 Feb 2024
Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.
Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.