How to Liquidate Your UK Company

If you need to liquidate your UK company and wind it up you will need to do so officially via Companies House, the register for all UK limited companies. It could be that your business needs to go into liquidation for financial purposes, and is being forced into liquidation by creditors. Alternatively, you can opt for a voluntary liquidation of your company, if you no longer wish it to remain active.

How to Liquidate Your Company

Closed Theatre Stage Curtains At Performance EndIf your business is debt free and there is money in the bank to pay creditors, you may want to liquidate it so you can retire or pursue other interests. In these circumstances you can download a “Declaration of Solvency” form from Gov.uk and complete it in full, all directors need to sign the form. A meeting of shareholders will need to be convened within the next 70 days to formalise the voluntary winding up process. Within 14 days you need to post a notice in The Gazette to the effect that the business is being liquidated/wound up voluntarily. A professional insolvency practitioner needs to be taken on board to check the company’s assets and take charge of the winding up of the business. Finally, the completed “Declaration of Solvency” needs to be sent to Companies House within 15 days of the shareholder resolution to wind the company up.