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Need To Close Your Limited Company?

 Understand your options with free, confidential guidance from experienced advisers 

Free, confidential, advice  Speak to experienced company closure advisors  Understand all your options 

 

I cannot thank the Directors’ Helpline enough…

I cannot thank the Directors’ Helpline enough, especially Ollie and Claire, for the outstanding support they gave me during one of the most difficult times of my life.

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Lisa

I am thrilled to share my experience with HubSpot, a truly exceptional platform that has transformed the way I approach marketing and customer relationship management. From the moment I started using HubSpot, I knew I had discovered a game-changer.

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John Doe

Job Title | Company XYZ

I am thrilled to share my experience with HubSpot, a truly exceptional platform that has transformed the way I approach marketing and customer relationship management. From the moment I started using HubSpot, I knew I had discovered a game-changer.

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John Doe

Job Title | Company XYZ

I am thrilled to share my experience with HubSpot, a truly exceptional platform that has transformed the way I approach marketing and customer relationship management. From the moment I started using HubSpot, I knew I had discovered a game-changer.

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John Doe

Job Title | Company XYZ

You're not alone

Many directors reach a point where continuing to trade is no longer the right option. Whether it's due to financial pressure, declining sales, HMRC debt or changing circumstances, deciding what to do next can feel overwhelming.

At The Directors Helpline, we support directors every day by helping them understand their options and make informed decisions about the future of their company.

We Can Help you understand your options

There isn't one single way to close a company and finding the right option for you is essential. Here at The Directors' Helpline we talk you through your options and help you make the best decision based on your company's financial position.

Our advisers can help you understand routes such as:

Creditors' Voluntary Liquidation (CVL)

If your company cannot pay its debts, a CVL may be the appropriate route to formally close the business. We'll explain the process and work alongside a licensed insolvency practitioner where required.

Company Strike Off

If your company is solvent and meets the requirements, striking off may be an option for closing your company.

Members' Voluntary Liquidation (MVL)

If your company can pay its debts but you want to close and extract remaining assets, an MVL may be suitable.

Business Recovery

Closing your company isn't always the only option. We can help you explore whether restructuring or recovery could allow your business to continue.

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Can I Write Off My Bounce Back Loan?

When it comes to bounce back loans, the only circumstance in which the loan can be “written off” is if your business fails and enters a formal process such as Liquidation.

If you find yourself unable to repay the loan, the PAYG Scheme is available as an initial option before considering Liquidation. It is highly recommended to seek advice from an experienced team who can provide tailored guidance based on your specific circumstances.

We can assess all your potential options and provide valuable insights to help you effectively manage the repayment or liquidation process. We can also check if there would be any personal implications ahead of the Liquidation option. Get in touch today.

Can I Close My Business With A Bounce Back Loan?

Yes, you can close a Limited Company with a Bounce Back Loan through the process of Creditors Voluntary Liquidation.

However, it’s important to seek trusted guidance first, as closing a  Limited Company with a Bounce Back Loan could have serious consequences to you personally. The Bounce Back Loan debt belongs to the Limited Company, not the Director personally, but there are certain circumstances (such as misuse) where you, the Director, may still be liable for repaying the loan even if you close your Company.

If you’re unsure where you stand, our Business Health Check can provide a confidential overview of your company’s position and highlight any potential risks before you take action. We can also provide you with tailored debt advice to help you navigate the complexities of closing your company with a Bounce Back Loan.

We can help you understand your options and the personal implications so you can choose a solution that works best for both you and your business. 

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Is it time to consider closing your company?

Directors often contact us when they are experiencing:

✓ Struggling to pay suppliers or HMRC
✓ Ongoing cash flow problems
✓ Increasing creditor pressure
✓ Reduced sales or declining profitability
✓ Personal stress from managing the business
✓ A business that is no longer financially viable

What happens when you speak to us?

With over 30 years of experience supporting company directors, our team understands the challenges businesses face. We'll take the time to understand your situation, explain your options clearly, and help you decide on the best next steps for your business.

1. Understand your situation
We'll listen to what's happening and use our experience to understand your company's position and the challenges you're facing.

2. Explain your options
We'll explain the options available, what each route could mean for you, and help you understand the potential outcomes.

3. Decide your next steps
You'll have a clearer understanding of your options and the steps you can take moving forward.

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If You Need Urgent Help, Get In Touch With Us Today

Speak to Jonathan and the team today to discuss your business needs.

Book A Call

Get Help Today!

You don’t have to face this alone. Our expert support team is ready to guide you to help you find the right solution, right when you need it.

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