Winding Up of A Company

The Process Explained

 

As unfortunate as it may be there may well come a time when the will to carry on the battle is lost.

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Abbott Adams Solvency Group via our Partnering Partners can advise what your options are in this situation.

 

Company liquidation and winding up of a company can often be the solution however it is important to have expert guidance as insolvency is a minefield for the inexperienced.

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The best advice is to act early as deferring the decision will eliminate favourable alternatives – and quickly!

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Typical situations leading to winding up of a business include:

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• The demands of creditors has simply just become too much and the Director cannot see a way of trading out. It may also be that a Directors Penalty Notice or Creditors Statutory Demand has been issued.

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• Another circumstance will be that your complex structures are no longer required, however some of the old entities may need to be either liquidated and or deregistered.

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• The last common situation is a company has ceased trading yet you are seeking to extract tax benefits via lodging of your final tax returns.

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