Insolvency pricing
The low down on pricing and how our service model works
Find out first hand how we can help, our initial consultations are absolutely free.
What’s the cost and how can it be paid for?
If your company is experiencing financial distress and you are thinking about liquidation, then the fees and costs and how they can be paid for, are an important part of your decision making process.
The price of the insolvency process very much depends on the size and complexity of your company. Key considerations in the pricing process include the number of staff to be made redundant, the number of creditors to be contacted and what assets are to be realised.
A small liquidation will cost between £4,000 and £6,000 (plus vat) in total, however it does vary based on the amount of work expected to be involved in carrying out the process.
Request a callback from one of our advisors and get the information you need to find out exactly where you stand.
You have a few options on how to pay for insolvency fees
When you are already experiencing financial difficulties, minimising any additional costs is important.
Be clear in advance what the costs are and what you best options will be.
Company funds
Paying from current company funds is a perfectly acceptable way of paying for insolvency fees.
Company assets
The proceeds from the sale of company assets can be used to cover insolvency fees
Directors redundancy pay
If you qualify for Directors redundancy pay then this can be used to help cover fees (The average payout is just over £9,000)
Personal funds
If the above options are not available then the fees must be covered personally by the company Directors.
Book a free consultation with one of our company advisors and find out how to maximise your options.
Beware of cut price insolvency fees
In times of financial difficulty, it may seem commercially sensible to choose the cheapest quotes on offer for your company insolvency but this could cost you dear in the long run.
This is not a point about cheaper price, cheaper service, its a very serious point about how a cheaper price can easily be made up elsewhere and in a way that could be to your personal financial detriment. An example of this would be a significantly overdrawn Directors Loan Account, which you will be personally liable for and which is always better determined before speaking to an insolvency practitioner to enable the opportunity of repaying a lesser amount back. Preference payments and wrongful trading would also fall into a similar category.
As part of our free consultation we aim to assess these issues, in your best interests, and to ensure there are no unwanted surprises lurking further down the line.
Here’s how our service model works
- PRE-INSOLVENCY
We’ll determine if your company is actually insolvent
We’ll help you prepare a personal survival strategy to minimise risk and personal liability
We’ll show you how to avoid the risks of wrongful trading and misfeasance
We’ll steer you clear of the risks of creditor led compulsory liquidation
We’ll assess your Directors Loan Account before you speak to an insolvency practitioner
We’ll let you know where you stand with any problems with Bounce Back Loans
If you qualify for Directors redundancy pay we’ll help you claim it for free
We’ll clarify what’s in front of you and how to get through it with the minimum of difficulty
2. INSOLVENCY
We introduce you to a known and vetted insolvency practitioner
3. POST-INSOLVENCY
