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Buyyourcompany Ltd is one of the UK's leading company formation agents. We provide the largest range of company structures and company formation packages in the UK. we are proud to provide our customers with a comprehensive range of company formation solutions, and business support products.
If this is the end of the road for your business in its current format, let us guide you on how to close your company in a legal and structured manner or restart with a pre-pack liquidation.
Facing financial difficulty? Contact us now, before taking any further action.
Don’t invest more money
Don’t accrue additional credit
Don’t make redundancies
Avoid new loans or borrowings
When we sell your company, we are selling its shares. Therefore, we sell all the company’s historical, current, and future debts and liabilities.
One fee. We charge only one fee for the entire service, and it’s structured depending on your company’s unsecured liabilities, with no hidden costs.
Specialist UK Lawyers. Our specialist-partnered legal firm has over a decade of experience in this sector and has completed thousands of company sales.
Quick completion. Depending on your urgency, the entire legal process can be completed within 2-3 business days. If you need it sooner then just let us know.
+ £50 Companies House Fee
+ £50 Companies House Fee
+ £50 Companies House Fee
+ £50 Companies House Fee
Our Information Request Form states the information to be provided to the Buyer such as:
● Location of Books and Records
● Your Accountant
● List of Creditors
● Company Authentication Code
Yes. If a business goes through the liquidation process, the conduct of the director(s) over the preceding three years is investigated as a matter of course. So as such a Director has a duty to engage with any liquidator or the Insolvency Service.
If you are a director of a company, you have both a statutory and common law duty to have regard to the interests of the creditors of the Company. This can mean that a Director, either by certain acts or omissions, can be held liable for the liabilities of a Company. This is a complex area of law, and if you are in any doubt, you should seek independent legal advice. The following is a non-exhaustive list of examples:
● Misappropriation of company funds – such as removing cash for non-company purposes
● Wrongful trading – if the directors of a company continue to trade, despite being aware that the company is going out of business
● Fraudulent Trading – a company carrying on its operations with the full intention of deceiving or defrauding creditors or customers
● Breach of Fiduciary Duty – as explained above, a director has a duty to have regard to the interests of the creditors of the Company
Yes. A shareholder simply holds a share in the Company and is not responsible for the day to day running of the Company. A shareholder is not personally liable for the liabilities of a Company. A Director is responsible for the day-to-day running of the Company and can, in certain specific circumstances, be held responsible for the liabilities of a Company.
We require you to confirm in the Information Sheet the whereabouts of the Company’s accounting and other books and records. Usually these are held either online (eg Xero, Quickbooks, etc) or with the Company’s accountants. This is so that the Buyer is aware. You must retain those records so that they are available for any subsequent liquidator of the Company and be prepared to hand over any physical or online records that you have.
Maybe, maybe not. Any creditor owed more than £1,500 is entitled to petition for liquidation but if there are no assets to pay the liquidator, often the petitioning creditor is asked to underwrite the liquidator’s fees which they are often reluctant to do. The Buyer will not attempt to put the Company into liquidation.
“My Company was struggling with debts. The only way out I thought was bankruptcy and started to search this up on the internet. I researched this idea and realised that many other companies had done this. I reached out to them and wish I had done this sooner. The process was so simple and any questions were answered quickly. I checked the legal details with a solicitor and after confirmation – went ahead with the sale which was all completed within a few days. I cannot recommend them enough. They have helped me get through a difficult and stressful time.”
“The whole process is so easy that it feels too good to be true like a scam. I had my accountant, an investment banker and a solicitor review the paperwork before I signed the contract and parted with any money. The transfer went over and their solicitors changed companies house. They did everything they said they would and made the process super easy. I even waited to do this review until companies house was updated, just checked and I am no longer the owner of my previous company that had £20k worth of debt attached to it.”
“My Company was struggling with debts. The only way out I thought was bankruptcy and started to search this up on the internet. I researched this idea and realised that many other companies had done this. I reached out to them and wish I had done this sooner. The process was so simple and any questions were answered quickly. I checked the legal details with a solicitor and after confirmation – went ahead with the sale which was all completed within a few days. I cannot recommend them enough. They have helped me get through a difficult and stressful time.”
You might not qualify for business financing or loans from banks or other lenders.
HMRC will not issue a VAT number or PAYE reference number or register new companies.
The NHS may refuse to employ individuals who have liquidated a company.
Large companies and local authorities are unlikely to award tenders to directors of liquidated companies.
To find out what data we hold about you please contact us at [email protected]
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To find out what data we hold about you please contact us at [email protected] |