Simple Liquidation blog

When you need to liquidate your company in the UK, this comes at a cost. Generally speaking, you will be looking at around £2500 to £6000 + VAT in total; however, it can be more or less depending on what your current situation is like. The liquidation of a company cannot be done by anyone, it has to be carried out by a licensed insolvency practitioner (otherwise known as an IP), and this is why the price of liquidation can become quite expensive. Total Cost to Liquidate a Company in the United Kingdom is going to be explained in more detail below. Whenever you have any insolvency procedure going on, there has to be a creditor’s interest. So, what does the liquidator do? There are a lot of different and complex areas of legislation and this is why an IP is needed in order to help with liquidating your company, which comes at a reasonably high cost. The IP that the company winds up appointing has a few different roles; the first thing that they need to do is assess all of the company’s a

There are different types of liquidation that exist in the UK, and each of these forms of liquidation could be used depending on what the business’s circumstances are. Specific circumstances apply to specific procedures, and one of the first things to consider is whether the organisation in question is solvent or insolvent. A solvent company has the ability to use a Members Voluntary Liquidation in order to close down after they have distributed the correct amount of funds to shareholders. If a company is insolvent, then they are going to either need to enter into Creditors’ Voluntary Liquidation or Compulsory Liquidation. In this article, we will be having a look at these three different types of liquidation and what their purposes are as well - 

There is no getting away from the fact that money and mental health are connected. Now, as the UK faces one of its most significant cost of living crises in decades, there is no doubt that people’s mental health will be hit. Is there any Connection Between Mental Health and Debt ? When you are struggling with your mental health, it makes earning money a lot more difficult. Not to mention that once you have earned that money, managing it becomes an issue. When you find yourself getting into debt, this can trigger mental health conditions or worsen existing ones, such as stress, anxiety and depression. There are several common misconceptions when it comes to debt. Many people think that people find themselves in debt because they live a lifestyle that others deem excessive and spend far too much money in places where they don’t need to. This isn’t the case. The fact is that some of the most common triggers of debt are unemployment and redundancy. This can happen to anyone, regardless of

Liquidation is quite a common occurrence. It is also frequently referred to as ‘winding up’ and is the process of a company coming to an end. Throughout the process, liquidators are brought in with the intention of assisting the company and helping them dispose of all of their assets, distributing the proceeds to creditors to whom they owe money alongside shareholders and staff. The assets of the company need to be sold (or ‘realised’) to do this. A liquidation auction is what happens when a liquidator puts together an auction where they will sell all of the company’s assets. The company’s assets include lots of different things which include inventory, computer equipment and furniture. When assets are sold at auction, the whole process tends to be quite quick and easy as everything is usually sold within the first month of the company going into liquidation. This is beneficial for the business as it means they will have funds quicker that they can use to pay off their creditors, staff