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How to close my company in Norwich?

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Leading UK

Closing a company includes a bunch of hard decisions to be made by the directors and the owners of the company. Closing is a difficult step and requires a set of tough decisions to be taken by the company. The process to determine How to close my company in Norwich is time-consuming and hence should be done by a professional.

Every country has a set of different rules and regulations that come into action while closing. Every company has to abide by the set of rules formed by their respective countries. All the proper details are available on the official websites of the legal department of the country. The United Kingdom has a unique and user-friendly set of rules that can easily be implemented by the company. A closure can be of two types-‘Creditors' Voluntary Liquidation’ and ‘Members’ Voluntary Liquidation’. Both types of liquidations are accepted by the country and can be easily done with the help of a licensed practitioner. By proper guidance, you can even avoid this procedure and can save your company from entering such a bad state. A CVL is one of the preferred ways to liquidate a company. The decision is taken by the directors of the company in a situation where the assets of the company are lesser than the liabilities. In such a situation, the company fails to pay the debts and hence looks for ways on How to close my company in Norwich.

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