Make the best decision for your business. Voluntary Liquidation advice you can rely on.

We’ve been advising company directors on their business challenges since 1978. Speak to our experts for free, confidential advice on your unique situation.

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Our liquidation specialists are experts in supporting company directors through times of financial distress.

We know that ‘one size fits all’ doesn’t work when it comes to solving your business’ challenges. So instead, our nationwide team of business rescue experts and licensed insolvency practitioners partner with you to find a solution that fits your business. It’s a holistic way of working developed by our director, Richard Simms, based on his experiences as a chartered accountant, licensed insolvency practitioner and having held a number of finance roles in various businesses of all sizes.

It’s a holistic way of working developed by our director, Richard Simms, based on his experiences as a chartered accountant, licensed insolvency practitioner and having held a number of finance roles in various businesses of all sizes.

“We’ve been in this business for over 40 years. In this time, thousands of UK companies have trusted us to guide them through rescue, insolvency and company liquidation.”

Richard Simms
Director

See how we have helped businesses like yours…

Michelle and the MVL team were great – fast, efficient and extremely helpful! I couldn’t have asked for the liquidation of my solvent company to have been any easier.

Katy S - Newcastle

My wife and I needed to close our Company. We didn’t know where to turn. We rang and were given free advice without obligation on a number of calls over a week. When we were ready to go, the process went without a hitch and they even got us some redundancy.

Mr Robert and Mrs Pat J - Towcester

I knew my company was bust, I just didn’t know where to turn. I found FA Simms on the internet and they ensured that I could close my company in just three weeks. All my staff got their redundancy and loss of wages sorted and so did I. I was even able to come to a deal to buy back some of the old stock, helping me start again.

David W - Cardiff

Making the call to wind up my business was the hardest thing I’ve had to do. I needn’t have worried as FA Simms were brilliant from start to finish and made the whole process stress free.

Trevor S - Bristol

The team was extremely helpful and a fabulous support all the way through our CVL process. All the FA Simms team helped to make a very stressful time as straightforward and stress free as it could be.

Philip W – Derby

Learn more about Voluntary Liquidation

What is Voluntary Liquidation?

Voluntary Liquidation is for company directors and shareholders (often the same people) when they decide to close a limited company. Anything of value in the company is “liquidated”, which means turned into money. That money is used first to pay those owed by the company (the company debts) and anything left over is paid to the company owners.

If there’s not enough money to pay those owed by the company, this is called insolvent. If the company can pay everyone owed money by the company, it is called solvent. The voluntary liquidation steps for a solvent and insolvent company are different.

A licensed insolvency practitioner is needed to act as liquidator of a company that goes into voluntary liquidation.

A director’s personal money is not needed to pay the company debts unless the company’s funds have been used illegally or unless a director has signed to pay a company debt personally (a personal guarantee).

Talk to us about Voluntary Liquidation.

Creditors’ Voluntary Liquidation (CVL)

A Voluntary Liquidation can be used to liquidate an insolvent company. ‘Insolvent’ means your company cannot pay its debts to one or more creditors, on time or in full. A Creditors’ Voluntary Liquidation is used to sell any remaining company assets and distribute the funds to your company’s creditors. The advantage of the Voluntary Liquidation of an insolvent company is that you’ll stop the pressure from creditors and can walk away debt free.

Please be aware that any attempt to strike-off a company that owes money under a government backed loan scheme is being blocked unless the company has been liquidated first.

Members’ Voluntary Liquidation (MVL)

A Members’ Voluntary Liquidation is used when you want to close a solvent company – one that can pay its creditors in full and on time and has assets that are greater than its liabilities. An MVL is used to tax-efficiently extract the profits from a company when a director is retiring or moving to employment with another company, the company is dormant, or if it was opened for a specific reason which has now ended.

Can a business survive liquidation?

Yes. If you would like to continue your business without the pressure of the company debts, then we can explain the options available to you to achieve your goals.

Get in touch today.