What does Liquidation cost?

Initial Advice

Any initial advice that you receive from Wilmott Turner either on the telephone, via e-mail or on-line forums is given without charge.

The process required to liquidate an insolvent company is called Creditors Voluntary Liquidation (CVL). Wilmott Turner Financial Services will work with an external Insolvency Practitioner to help our clients Liquidate their company. If you decide to proceed with Liquidation with our help the following charges will apply.

Do you want help to Liquidate a company? Give us a call (0800 088 7376) or complete the form below to speak to one of our experts

Statement of Affairs and Creditors Meeting

If a Creditors Voluntary Liquidation is to be used the directors of the company will need to appoint an Insolvency Practitioner. Their task will be to prepare a statement of affairs for the company and to facilitate a creditors meeting where the liquidator will be appointed.

The costs associated with this activity will vary depending on the size of the company. The charge will normally start at £2000 + VAT. The IP will share some of this Fee with Wilmott Turner.

These charges may be paid for from cash which the company is still due from debtors or from the sale of its assets. However if there is no likely prospect of the funds being raised in this way then they must be borne by the company’s directors.

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