This poses a challenge for you. Typically, insolvency fees start at £5000 plus VAT, depending on the complexity of the case.
Emerald will always look to secure the best market price to liquidate your limited company.
If you find yourself unable to afford a licensed insolvency practitioner, there are alternative ways to fund a formal insolvency procedure for your business. These options include selling business assets, collecting outstanding payments or setting up a payment plan.
It’s also important to note that UK law mandates that only a licensed insolvency practitioner can serve as a liquidator in any formal business liquidation proceeding.