Guide

Liquidate your limited company

Last updated: 8 August 2017

What the liquidator does

The liquidator is an authorised insolvency practitioner who runs the liquidation process. As soon as the liquidator is appointed, they will take over control of the business from the directors.

They'll:

  • 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 keeps authorities informed
  • pay liquidation costs and the final VAT bill
  • bring together people owed money (creditors) and hold meetings where necessary
  • decide which creditors should be paid first
  • interview the directors and report on what went wrong in the business
  • get the company removed from the Company Register

In a creditors' voluntary liquidation, the liquidator acts in the interest of the creditors not the directors.

Find a liquidator

You can find an insolvency practitioner who is licensed to act as a liquidator.

Liquidate your limited company
What the liquidator does