While successful company owners will never want to think about dissolving their business, sometimes winding up can be the only option available.
Winding up and liquidation essentially refer to the same thing closing a company, making sure all of its affairs are dealt with legally, and removing it from the companies register with Companies House.
Limited company directors might choose to liquidate a company for different reasons. And the company might be able to use its assets to settle its debts (meaning its solvent), or it might not (meaning its insolvent).
Striking off your limited company
Before we talk about liquidation, if your company is solvent but no longer active and you want to close it, you can strike it off the companies r…
Read the full article at: https://www.simplybusiness.co.uk/knowledge/articles/2020/10/how-to-wind-up-a-company/
