Liquidate your limited company
What the liquidator does
The liquidator is an authorised insolvency practitioner or official receiver who runs the liquidation process.
As soon as the liquidator is appointed, they’ll take control of the business.
They will:
- settle any legal disputes or outstanding contracts
- sell off the company’s assets and use any money to pay creditors
- meet deadlines for paperwork and keep authorities informed
- pay liquidation costs and the final VAT bill
- keep creditors informed and involve them in decisions where necessary
- make payments to creditors
- interview the directors and report on what went wrong in the business
- get the company removed from the companies register
In a creditors’ voluntary liquidation, the liquidator acts in the interest of the creditors not the directors.