Costs of Liquidation
Stockcode:
Voluntary liquidation is an effective way to close an insolvent business. The costs of liquidation can put directors off but not doing anything is likely to cost you more in the long run!
The cost of liquidation depends on the complexity of the case. This is based on factors such as;
Whether the company is trading or not.
Number of employees
Number of creditors, and how much it owes them
Value of its assets, including money it is owed by debtors
Director and shareholder profile
The quality of the financial information available.
Generally, the costs start at around £3500 + VAT. This would be for liquidating a company with a single creditor, such as having an unpaid Bounce Back Loan (BBL) or HMRC. For more than one creditor issue, we would expect the fee to be approximately £3,750-4,000 plus VAT. For more complex issues including companies who have landlords, employees, BBLs and supplier debts we will provide a written quote after our meeting with the directors to discuss the company’s options. Do get in touch to discuss your company’s liquidation, don’t delay and hope the problem will go away!
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