Sterling Ford - Insolvency & Bankruptcy Services


   Liquidation Direct
   
Liquidation Direct In these challenging economic times company directors should shop around for the best insolvency advice or service at the least cost, particularly when not being able to afford proper advice could prevent them from being able to meet their legal responsibilities.
At Sterling Ford, being cost effective does not mean having to compromise on the expertise or services we provide. By streamlining our services so that we can keep our charges to an absolute minimum and by offering fixed fee and disbursement packages, we are able to provide cost effective, value for money solutions to those instructing us, as well as to all other stakeholders.
Through Liquidation Direct we offer fixed fee and disbursement packages for liquidating smaller solvent and insolvent companies, examples of which are as follows:

Members' Voluntary Liquidations ("MVLs") - Fixed/set fees of £1,150 plus VAT* for up to 3^ members of same class** of share capital, with a variety of asset classes, without pre-liquidation tax clearance in place and having deregistered for VAT`, disbursements of £257 plus VAT plus bonding insurance [e.g. for a cash balance of £100,000 - scale based insurance premium would be £138]. Option to take advantage of two years' annual exemptions (CGT), where possible and entrepreneur's relief, subject to qualifying.
Early distribution of up to 75% of cash balance available within 28 days of appointment.
For full details of this ground-breaking service, click here.
*VAT, if company is/was registered at full rate may be re recovered at a set fee of £65 plus VAT
**additional set fees where two or more share classes at £35 plus VAT per class of share
^further set fees apply per additional member in excess of 3 members as follows: 4-7 members at £50 plus VAT per member, 8-10 at £45 plus VAT per member, 11 or more at £40 plus VAT per member
`where VAT deregistration has not been effected online pre-liquidation by client/their accountant, a further set fee of up to £150 plus VAT may apply for manual [postal] deregistration, which may also delay tax clearance by up to 3 months

Creditors Voluntary Liquidations ("CVLs")- our charges for placing in liquidation a company with no assets and one creditor, typically HMRC, are £1,950 with disbursements of £456 both plus VAT, £2,250 with disbursements of £506 both plus VAT where there are no assets and between 2 and 5 creditors and from £2,500 with disbursements from £556 both plus VAT where there may be more than 5 creditors (excluding employee claims), or some employee claims, some nominal assets, which may or may not require independent valuation, and perhaps some pre-liquidation trading etc. In cases where the director(s) have a contract of employment and are owed salary, holiday pay, or redundancy, they may be entitled to submit a claim for payment to be made from the National Insurance Fund.
For more details click here

Other fixed-price services include:

Company Voluntary Arrangements ("CVAs")- where our charges for preparing CVA proposals start at £2,000 plus VAT and disbursements.
For more details click here

For a different perspective, call us now on 0808 171 2291 or complete our enquiry form.