Dealing with trustees in bankruptcy, liquidators and the Official Receiver
If you cannot pay your personal debts, or if the assets of your business are less than your debts, you or your business will become insolvent, leading to bankruptcy or liquidation.
In the bankruptcy process, the Official Receiver or an insolvency practitioner takes control of your assets with the purpose of selling them and sharing the proceeds between the creditors.
In a liquidation, a liquidator is appointed to wind up the affairs of a limited company, which will cease to exist at the end of the process. Again, the Official Receiver or an insolvency practitioner will act as the liquidator.
Bankruptcy or liquidation is not a step to be taken lightly and it would be wise to seek expert advice from Taxation-Investigation before deciding to proceed.
Full co-operation with the Official Receiver, liquidator or trustee in bankruptcy is essential and we can support and advise you during the investigations into your own or your company’s financial affairs required as part of the process.
To find out more about our tax investigation services in Edgbaston, Birmingham please contact Taxation-Investigation.