Get Help with Company Closure

At The Directors Helpline, we provide free, confidential guidance to company directors who are considering closing their limited company and need to understand the options available before making any decisions. Whether your business is struggling financially, facing increasing pressure from creditors, or you simply feel it may be time to move on, we’ll help you understand your position and what steps you can take next.

Every company’s circumstances are different, and the right approach will depend on your financial situation, outstanding debts, and what you want to achieve. Whether you’re dealing with HMRC debts, Bounce Back Loans, supplier pressure, cash flow problems, or a business that is no longer viable, we’ll explain the possible routes available and help you understand the advantages and considerations of each option.

Depending on your circumstances, this could include voluntary closure, dealing with outstanding debts, restructuring, or a formal insolvency process where appropriate.

'A directors lifeboat highly recommend' During a very stressful and slightly depressing time at the end of running my small business ! There was these guys to help with clarity support and understanding !

Darren ellis

'Outstanding Support During a Difficult Time'

From the very beginning, the team was professional, compassionate, and reassuring. They took the time to explain everything clearly, answered all my questions, and supported me every step of the way.

Mariella

'A truly brilliant service!'

Helpful, honest advice and a depth of knowledge and understanding that really helped us understand where our business is and what we can do moving forward.

Andy Poole

'When you think you have nowhere to turn…'

and no-one can help you.... these are THE guys for you if you find yourself in liquidation wasteland! They have really helped me and put my mind at rest with calming support and advice.

Mark Fesco

'Excellent support from The Directors Helpline...'

Claire explained the implications of the personal guarantee clearly and professionally, helping me understand my position before signing any agreement. Very knowledgeable, responsive, and helpful. Highly recommended.

Prashanth

'Outstanding Support When You Need It Most'

I had previously dealt with suppliers and advisers who charged a considerable amount of money but, in reality, offered very little meaningful help. The experience with The Directors Helpline has been completely different.

Ian Nicklin

Book a free, confidential consultation

We’ll take the time to understand your company, your financial circumstances, and what you want to achieve. Every business is different, so we’ll explain the available closure options and help you understand which route is most appropriate for your individual situation.

Understand your responsibilities and routes

Before making any decisions, we’ll help you understand your responsibilities as a director and identify any areas that may need careful consideration, such as personal guarantees, director’s loan accounts, or other financial obligations. Our aim is to ensure you have a complete picture, to move forward.

Take your next steps with confidence

Once you understand the best way forward, we’ll guide you through the next steps and remain by your side throughout the process. If specialist support is required, we’ll introduce you to one of our carefully selected, trusted experts who can help, while continuing to support you every step of the way.

How do you know it's time to consider closing your company?

If your business is facing any of the following challenges, it may be time to explore your options. The earlier you seek advice, the more choices you may have available.

You're struggling to pay HMRC, suppliers, or other creditors

Cash flow problems are making it difficult to keep trading

Creditor pressure is increasing, including letters or legal action

Sales have fallen and the business is no longer profitable

You're using personal funds to keep the business afloat

You believe the company is no longer financially viable

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.

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

Frequently Asked Question

Have a question? We're here to help!

Can I close my limited company if it has debts?

Yes. The right option depends on your company’s financial position, the level of debt, and who you owe money to. We can help you understand whether closure, restructuring, or another solution is the most appropriate route.
Will I be personally liable for my company’s debts?

Not always. Limited liability usually protects directors, but personal guarantees, director loans, or certain director actions can create personal responsibility. We can help you understand your position and any potential risks.
How much does it cost to close a limited company?

The cost depends on your circumstances and the closure route required. Some companies may qualify for a simple strike-off, while others may need a formal insolvency process. We’ll explain your options and any associated costs during a free, confidential consultation.
How long does it take to close a limited company?

The timeframe depends on your company’s circumstances and the route chosen. We’ll guide you through each step and help you understand what to expect.