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Putting a business into liquidation in Scotland

6 January 2021

Putting a business into liquidation in Scotland

''My Scottish business is in trouble! What is voluntary liquidation?"

There is only one company driving the rescue culture in Scotland. Welcome to Company Rescue! Liquidation or administration are not the only options! Have you considered a CVA or Company Voluntary Arrangement?

In Scotland there are few CVAs proposed and this is, in the most part, because there is a culture in the Scottish insolvency world that you should allow the creditors to take control of the debtor company. There is also a belief that the HMRC will not approve a CVA in Scotland - Not so! We have never had a CVA rejected by HMRC in Scotland. Our ethos is that if a company has a viable future (if its current problems can be solved) then you should do your up most to keep it trading and pay the creditors over time. This method has in most cases given a better return to creditors and saved more jobs than an administration, or, of course, a liquidation.

The standard approach in Scotland seems to be - if a company is struggling, put in a winding up petition and knock the company over or place it into liquidation yourself. Hence, it is even more important in Scotland to recognise the signs of distress in your company and check to see if your company is insolvent. Have a look at our insolvency test pages.

: Complete Guide to Creditors Voluntary Liquidation CVL

"KSA Group which owns this site, will help you fix problems in your business. We won't charge for any initial advice or face to face meetings. We speak in English. We will save you money and your precious time.  You can come to any of our offices

"We also follow up any meeting with a full "solutions report" which runs on average to 30 pages valuable free advice!!  No other practitioner offers this service.  In this report we advise on ALL the options and explain them clearly.  We advise on a course of action given the information you have given us ( the more information we have the better we can advise!)"

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