Your Guide to Business Clarity

Frequently Asked Questions

FAQs

If you are experiencing problems with debt you probably already have a list of questions that you need answers for.

Yes, we can help. We specialise in providing professional debt advice to Directors of limited companies.
There are a wide range of debt solutions available to limited companies, including debt recovery and debt rescue. We work with Directors to find the most suitable and economical solutions to business or company debt.

Not usually. The Company is a separate legal entity and holds contracts with people or companies in its own right. Unless a Director has acted outside of his authority, or has given personal guarantees, generally the Director will not be liable for the debts of the Company.

Feel free to pick up the phone and call any of our advisers for quick guidance, there is no charge for this, other than your phone bill of course!

For detailed guidance, we offer a £99 power hour and this is fully redeemable against any of our other services should you decide to proceed. We offer this, fully confidential, no-obligation consultation either in person, over the phone or via video-conferencing at a time to suit you.

During the session we will listen to you to hear more about your circumstances, talk through your available options and offer advice on the most suitable solution for you.  We will follow the meeting with a written summary of our advice. This is often useful to you as a business owner because it demonstrates that you have taken appropriate, professiaonl action.

Possibly. We offer a free, fully confidential, no-obligation consultation either in person, over the phone or via video-conferencing at a time to suit you.
A Company Voluntary Liquidation (CVL) allows a company to manage their own liquidation, avoiding the stress and risk associated with a compulsory liquidation.
For businesses who act quickly while there is still cash in the company, the cost of liquidation can be funded using the company’s assets. Typical costs for a Company Voluntary Liquidation range between £6,000 and £8,000 (plus VAT and disbursements) and are dependent on a number of factors such as staff numbers, assets, total creditors.
A CVL involves stringent regulation and must be conducted by an Insolvency Practitioner. There are certain costs that are payable such as statutory advertising, insurance, agent fees (e.g. valuers), convening of creditor meetings and reporting costs.
It depends. Liquidators have a duty to obtain the best possible price for the company assets. If selling assets to the former Director, a professional valuation would be needed to show that the price offered is fair. The Liquidator is required to sell the assets for the highest offer received. If your offer is the highest then the assets can usually be sold to you.
We can help. It’s important that you take prompt action to prevent the CCJ being enforced by bailiffs. Ring or email us for immediate advice on how to protect yourself.
Yes, we can help. If bailiffs have been instructed it’s important that you act quickly. In most cases, we can speak directly with the bailiff. Once they are aware of your circumstances, they may allow us extra time so you can decide on the best course of action for your business.
 

A company strike off is a process that deregisters a company from the official register (Companies House) and legally dissolves it. This means the company is no longer recognised as a legal entity and cannot operate or enter into any new business contracts.

Introducing The Solve Co #KeepingBusiness OwnersinBusiness!

Our Journey: From Insight to Innovation Welcome to The Solve Co, a specialist business support organisation designed to address the...

Continue Reading

Closing Your Business in the UK: A Comprehensive Guide by The Solve Co

Deciding to close your business is a significant step and one that can be fraught with complexities. At The Solve...

Continue Reading

Maximizing Returns and Tax Efficiency: Exploring Members’ Voluntary Liquidations (MVL)

Are you a business owner seeking an exit strategy for your profitable company, eager to reap the rewards of your...

Continue Reading

Navigation

Home
About
Courses
Blog
FAQs
Contact

Signup:

To stay in touch and receive notifications of our latest educational resources, sign up.

The Solve Co

The Solve Co is a trading style of The Insolvency Company SW Ltd, registered in England and Wales at 2 The Crescent, Taunton, Somerset, TA1 4EA Copyright © 2024 The Insolvency Company SW Ltd. 10348775

Data Protection Registration No. ZA203305