Company Closure

When it comes to closing a business, you will discover various insolvency options are available to you. The right approach to take depends on several factors, primarily its financial position at the time of company closure. It’s essential to understand the difference between a solvent company and an insolvent one.

An insolvent company is unable to pay its debts as and when they fall due or its debts exceed its assets, indicating technical insolvency. To safeguard the interests of creditors, an insolvent company must be closed and wound down.

This process can either be voluntary, i.e. initiated by the company’s directors and shareholders, known as a CVL, or can start when a creditor finally loses patience in recovering monies owed to them and issues proceedings at Court against the insolvent company, referred to as Compulsory Liquidation.

On the other hand, a solvent company is capable of paying its bills and expenses promptly, with assets higher than its debts and therefore there will be surplus funds to return to its shareholders. Using an MVL procedure could be the most tax-efficient way for the shareholders to extract funds owed to them from the company.

Need to close company? Choose Umbrella.UK Insolvency to handle your limited company closure and benefit from our expertise.

Why choose Umbrella.UK Insolvency to close company?

Umbrella.UK Insolvency Company Rescue Recovery and Closure Advice for business owners.

FREE, no obligation, non-judgmental and professional insolvency advice within 24 hours.

We will help you move forward with an insolvency solution for closing your limited company that is best for you.

Need to close company? Director led involvement so you will benefit from a high level of expertise every step of the way.

Overseeing Umbrella.UK Insolvency, Tom Fox has more than 20 years of corporate insolvency experience and is an expert in closing a limited company. He is a member of the Insolvency Practitioners Association (IPA) and Association of Business Recovery Professionals (R3).

100% confidential and dependable insolvency advice.

Get honest advice for closing a limited company you can trust. We prioritise clear, honest communication without blinding you with technical jargon.

Need to close company? We offer a nationwide insolvency service.

Closing a business? Our friendly team offers nationwide accessible advice and support by phone, in-person or online.

We can take your stress and worries away.

With a broad range of skills and experiences, your insolvency solution is in good hands with Umbrella.UK Insolvency.

Find out more about the options for closing a business

CVL - Insolvent

If the company is experiencing financial difficulty and there is no prospect of continuing to trade then you should consider using a Creditors Voluntary Liquidation (CVL) procedure to close the insolvent limited company.

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MVL - Solvent

If you are planning to close your solvent limited company then, depending on how much cash is left, using a Members Voluntary Liquidation (MVL) could be the most tax-efficient way and save you thousands of £££s.

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Visit our insolvency advice hub for free director resources you can trust

Read insolvency case studies

Take a look at our insolvency client case studies to explain how the different business closure options can work.

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Company Closure Advice Cheshire

If you are unsure what situation your business is in, don’t worry! Call our confidential expert insolvency advisers on 0800 611 8888

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What our clients say

I engaged Umbrella accountants to oversee a Members Voluntary Liquidation for the small consultancy business I've been running. The team talked me through the MVL process, steps and requirements. The paperwork involved was well explained and straightforward, with the initial disbursement of funds handled very quickly and professionally under tight deadlines.

Brendan N,
I extend my appreciation of your professional efficiency in handling my company business and herewith say thank you.

Maxine R,
Umbrella.UK Insolvency guided me as sole Director of my small limited company, and the shareholders, through every step of a Members Voluntary Liquidation in a very efficient manner. The steps required were clearly laid out and proactively managed by their licensed practitioner. From first meeting through to an interim distribution of funds to shareholders took only a few days in our case. Thereafter, Umbrella will be managing all of the downstream actions required to complete the process with HMRC and Companies House, through to the final discharge of the company.

Alex O,

I'd just like to thank Tom for your help with the closure of my company. You have been highly efficient and very professional throughout. Thank you.

Tony D,
First of all, I would like to say a BIG Thank You for all of your assistance over the past year. I would not be in the positive state of recovery without Umbrella Insolvency. Your care and assistance at the application stage last summer, along with the advice throughout the year, has been great. I would not hesitate to tell anyone in my negative situation where to turn to.

Mr TM,
Before I came to Umbrella.UK Insolvency I was in a bad place mentally due to debt because I believed I would be in my current situation for a long time to come. Umbrella.UK Insolvency walked me through my options and helped me pick the best one. I am genuinely amazed at what they managed to do for me and can now afford to live comfortably, and without the constant worry of debt looming over me.

MT,