What Next ?
The Process Simplified: You can only enter a liquidation under the guidance of a licensed Insolvency Practitioner, and we will be on hand to give you practical and technical advice. We will also talk through any other possible options for the company with you and highlight any potential issues that may be faced in a liquidation.
Once you have decided that the Creditors’ Voluntary Liquidation (CVL) is the appropriate process for your company, we have made the process as simple and stress-free as possible for directors:
STEP 1
We will send you our engagement letter and terms of business to you by email for e-signing, and this will set out the services and the costs involved.
STEP 2
To gather the information we require from you, we use an online portal that we will invite you to access, where you will find a list of all the information that we will need. You can easily and efficiently upload documents and add notes directly into our system for us to review
STEP 3
We have an experienced team who deal with the onboarding process for all clients, and you will receive their contact details so that they may support you through the process by telephone or email and answer any questions that you have, as well as dealing with any third parties such as creditors or HMRC.
STEP 4
We will need the names, addresses, reference numbers and amounts owed to all creditors, so that we can advise them of the company’s liquidation.
STEP 5
As your information is uploaded to the client portal, we will prepare the liquidation paperwork and agree a date with you for when the company will enter liquidation. The liquidation paperwork is sent to you for review and e-signing
STEP 6
The notices will be sent to the shareholders and creditors. The shareholders meeting and the notice to creditors are generally a formality, however we will be on hand in the unlikely event of anything requiring action or if you have any questions.
STEP 7
Once the company enters liquidation, our onboarding team will introduce you to one of our dedicated liquidations specialists who will manage your liquidation through to its closure
STEP 8
Once the company is in liquidation, we will notify HMRC, the company’s bank, all creditors and any other parties required ,including Companies House, and we will place the necessary adverts into the London Gazette.
STEP 9
We will deal with any company assets and arrange for these to be sold and any funds held for distributing in the statutory order of preference.
STEP 10
Within three months of the company entering liquidation we will file our report on the liquidation with the government Insolvency Service.
STEP 11
All assets will need to be sold and employee claims dealt with. Once we have completed this, we will know if creditors will receive any funds from the liquidation. If there are funds for creditors, we will agree their claims and make payments to creditors.
STEP 12
If there are no funds for creditors, the liquidation should be expected to be complete within around four to six months.
STEP 13
We will file the final report with Companies House to ensure the company is dissolved at the end of the process.
Mr W, Norfolk
I want to extend my deep gratitude to the entire team at Leading for the compassion, consideration, generosity and understanding shown to me throughout the last 4+ years during my IVA. When it finished, the level of stress that dropped from my shoulders last week, well, I can only say that a few tears were shed. So thank you.
Mr W
Peter and Charlie, Norfolk
We were in a real muddle when our businesses had a large customer go bust leaving us with a bad debt of £85,000. It hit our cashflow really bad and we didn’t know what to do. Jamie and Alex put together a CVA very quickly and helped us present this to our bank, who were supportive. Our suppliers and HMRC also approved the CVA and our business was saved.
Peter and Charlie
Edward, London
I have used Leading for two solvent liquidations (MVLs) in five years and both times have gone very smoothly. I work in IT contracting and I have also referred friends of mine to Leading
Edward
John, Essex
My accountant suggested a meeting with Leading when I fell behind with my VAT. We had a meeting the very next day and all of the options were explained very clearly, and although I was nervous, the team made me feel comfortable that a liquidation was the right decision. It was a real relief to get things dealt with properly and felt things were dealt with very professionally.
John
Lawrence, Norfolk
I dealt with Jamie Playford and the Leading team last year for my business when I needed help. I found them to be helpful and extremely understanding. They were recommended by my accountant and I am very grateful for their help in getting me back on my feet. Highly recommended
Lawrence
Katarina
Jamie and the team helped so much with my IVA when I really didn’t know where to turn. They acted quickly and I felt very reassured
Katarina
Licensed Insolvency Practitioners
For Over 10 Years
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