Liquidate your limited company
Overview
You can choose to liquidate your limited company (also called 바카라 사이트˜winding up바카라 사이트™ a company).
There바카라 사이트™s a different process if you want to or .
The company will stop doing business and employing people. The company will not exist once it바카라 사이트™s been removed (바카라 사이트˜struck off바카라 사이트™) from the at Companies House.
When you liquidate a company, its assets are used to pay off its debts. Any money left goes to shareholders. You바카라 사이트™ll need a validation order to access your company bank account.
If that money has not been shared between the shareholders by the time the company is removed from the register, it will go to the state.
You바카라 사이트™ll need to restore your company to claim back money after it바카라 사이트™s been removed from the register.
There are 3 types of liquidation:
- creditors바카라 사이트™ voluntary liquidation - your company cannot pay its debts and you involve your creditors when you liquidate it
- compulsory liquidation - your company cannot pay its debts and you apply to the courts to liquidate it
- members바카라 사이트™ voluntary liquidation - your company can pay its debts but you want to close it
Your company may be forced into liquidation if it cannot pay its debts.