What is the difference between dissolving and liquidating a company
The main difference being that there must be a meeting with the creditors in a CVL since the company is insolvent and cannot pay off its debts. If you are thinking of winding up your company, have any further questions, or you have been issued with a winding up petition, get in touch today.
Find out more about how a creditors voluntary liquidation is carried out. You can call me on 01472 254914 for a free confidential chat where I’ll explain the various options available to you. Before you do, download our free guide, specially written for limited company directors, now.
If this petition is granted by the court, the company will then be investigated and liquidated by the Official Receiver.
The Official Receiver will make it their business to conduct a very intrusive investigation into whether any misfeasance or wrongful trading has been conducted.
This is not to be confused with the term ‘winding up’, which many people use to signify the ceasing of their business or trading (see above).
Liquidator/IP is appointed and will handle statutory filings and notices 4.
All taxes are prepared and filed throughout the winding up process through to liquidation 5. Shareholder meeting for the final report Whilst it is not a legal requirement to appoint an IP prior to liquidating a company, UK law is very specific so it is prudent to consider appointing one for their expertise at this point.