Closing a limited company down is never an easy decision. The cost for a small business to liquidate should be from £3,500 plus vat.
If the money is sat in the company then the liquidator should take the money from there.
Any director would be wise to insist on a dry run liquidation prior to engaging the liquidator so that any claims can be highlighted first so that the unexpected doesn’t happen and claims can be catered for.
Closing a limited company down is stressful enough without having to find personal money when not budgeted for.
Doing a dry run liquidation will also highlight whether saving the company would be a better option, through the use of a Company Voluntary Arrangement.
If there is a winding up petition in place then the time frame to act on the advice is shortened.
Talk to the friendly bunch at TaxGone before closing a limited company down on: 01302 815846 where better decisions can be made.
TaxGone - Company Voluntary Arrangement - CVA Specialists
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