liquidation

  1. A

    How long to wait for tax refunds from estate of Ltd Co after MVL?

    I entered my Ltd company into an MVL via an IP in August 2023 and I am still waiting on a final distribution from the IP for funds due from Corporation tax and VAT refunds. The IP are claiming that the delay is due to the accountants not submitting these returns prior to the MVL commencing...
  2. L

    IVA vs Bankruptcy After Business Liquidation — Advice Needed

    Hi all, I'm looking for advice and personal experiences from anyone who's been through either an IVA or bankruptcy, particularly after a business has entered liquidation. I’ve had two businesses - one retail and one e-commerce - both of which have recently gone into liquidation. While they...
  3. HeadTurtle

    My 9 year old business is at a crossroads - Urgent advice needed

    Apologies if I waffle on too much here - I'll try to keep it concise. I shall summarise the main points at the end of the post. I'm just at a point where I need to make a call and follow through. Any input, positive or negative, would be so greatly appreciated. Thank you. The full story I...
  4. F

    Liquidator behaviour is this normal?

    Hello and happy Good Friday.. I am going through a liquidation. I never thought this would happen and I am ashamed. The company I am using was a recommendation via my accountant. He suggested one company that I couldn't afford but they were kind and recommended this one. The MD of this...
  5. Anni71

    Liquidation - Dividends

    Still undergoing a lengthy liquidation process for a small business as a contractor. Alway took dividends out - hit by contracts in 2020/21 due to Covid. Cash reserve of 100k at the start of that year so continued to take dividends whilst seeking new contracts until 2021. Contract came through...
  6. S

    Looking for Guidance on Winding Down My E-commerce Business – Stripe/Klarna Disputes, PayPal Funds & Business Closure

    Hi everyone, I'm looking for some advice or guidance on how to close down my UK-based e-commerce business in the most efficient and least painful way possible. This company sold physical goods exclusively to non-UK customers via a Shopify store, with Klarna through Stripe as one of the main...
  7. P

    Liquidation nightmare

    Good evening. I’ll try and keep this brief. We had to put our limited company (2 directors) into liquidation at the beginning of 2023. Accounts were done and submitted for beginning 2021 and done but not submitted for beginning of 2022. The most recent accounts (not submitted)had a OD DLA £4k...
  8. H

    Compulsory Winding Up - Should I ask for this?

    Thank you in advance for reading this, I’ve read a lot of threads on here over the last few months and I appreciate those who give their advice. I have run a limited company for the last 7 years but have reached the end of the road and I quite literally don’t know where to turn next. My...
  9. V

    Company Directors in trouble with liquidator

    Any company directors here who have had a bad experience with a liquidator? I am dealing with very difficult situation liquidating my limited company which stopped trading during the pandemic. I think I was scammed by the liquidator who didn’t explain the process of Creditors Voluntarily...
  10. maxheadroom

    Bounce Back Loan Advice Needed

    In May 2020, I applied for a £15,000 Bounce Back Loan, which was approved instantly. The funds were used primarily for lead generation as business had slowed due to the pandemic. Unfortunately, this strategy didn’t work, and despite my best efforts, I had to cease trading in November 2020. In...
  11. K

    Liquidation of Ltd Company or Conversion to CIC

    I'm currently the sole director of a small ltd company which has been trading for 8 years. In the last couple of years, profits have dipped and we have made a small loss. We currently have small outstanding debts with some left to pay on a Bounce Back Loan, a credit card that's overdue (it's a...
  12. S

    PLEASE HELP, COMPANY INSOLVENT AND NEEDS TO CLOSE

    So this is a horrible post to write, basically our company has failed with DLA debt and has been unable to pay its taxes/BBL. It has no money, we have no money and are obviously terrified of the consequences. In terms of drawings my husband hasn’t taken anything since the moment he found out it...
  13. P

    outstanding directors loan

    Hello, Im pretty desperate and wondered if anyone could help me. I liquidated company, (child is disabled and I'm unable to continue operating business), I am advised by liquidators that there is an outstanding directors loan account and I have been asked to complete an income/expenditure form...
  14. J

    Goodwill purchase from liquidating company

    Hi all, I’m looking to buy the assets - including the goodwill - from the liquidator of a competitor company (“old co”) which entered liquidation a month ago My concern is that the director of old co has been trading that entity since late 2023 using another company she also owns (“new co”)...
  15. A

    Insolvent directors asking for equipment return

    Hello! Ok so I am not a business owner directly involved in the company I am enquiring about about here, but I was an employee with the company in question… The company I worked for has been placed in insolvency recently. My employment contract terminated, no salary pay for the month, or...
  16. H

    CVL - Company dissolved - what next?

    My company became insolvent due to business dropping during Covid so I appointed a liquidator early 2022. The business was dissolved in August 2023. I’ve not actually heard from the liquidator but it is showing on companies house as dissolved. What happens next? Is that it done? Could I still...
  17. A

    Can liquidators claim for POs that were never invoiced?

    Hi there, This may be a very obvious question but I cannot find a clear answer to it. My supplier (of a service) has gone into liquidation. We had issued a PO against an estimate of theirs and they worked on a digital project with us. There are no physical items that changed hands. The...
  18. B

    Issues with liquidator

    Hello! I wonder if anyone here experienced similar situation when closing a limited company? I entered into CVL about 2 years ago, due to COVID pandemic. I appointed a liquidator who explained how the debts will be written off. I paid his fees (£6k). But after several months of signing up with...
  19. D

    Company liquidated after CCJ to avoid debt - legal advice

    Hi, We leased a commercial unit (that we own on a private basis), to a Ltd company who have failed to pay us rent. The contract was in the Ltd company name AND the two directors personally. We took civil action for the recovery of the debt and were granted the judgment. We did this against...
  20. H

    Closing company

    Hi all, Another novice question but would love thoughts on closing a company. I’ve read a lot of different cases here and suggestions but I’ve finally decided to just register an account and here your thoughts. Context: the company is a limited company created December 2022, has 1 employee...
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