Insolvency Practitioner
If your business is struggling with debt, facing legal action, or unable to meet financial obligations, a licensed insolvency practitioner will advise you and find a solution.
What Does an Insolvency Practitioner Do?
An insolvency practitioner (IP) is a regulated professional authorised to restructure or close down struggling businesses.
An IP can:
- Assess a company’s financial health and advise on the best course of action.
- Negotiate with creditors on behalf of the struggling company, assisting the directors to agree on payment terms and remove financial pressure
- Manage formal insolvency procedures, such as Creditors’ Voluntary Liquidations (CVL).
- Close a solvent company with a Members’ Voluntary Liquidation (MVL).
- Advise directors on how they can meet their legal obligations on the run-up to a formal insolvency process and avoid the risks of wrongful trading.
If your business is struggling, finding an insolvency practitioner near you can assess your options and help you take action before it’s too late.
When do you need an Insolvency Practitioner?
If your company is struggling with debt or you feel there’s a risk of insolvency, finding an insolvency practitioner near you can help you find a solution before the situation worsens.
You should contact an insolvency practitioner if:
- You’re struggling to pay suppliers, staff, or HMRC on time.
- Creditors are threatening legal action or you’ve been issued a winding-up petition.
- Your company has significant debts that you cannot afford to repay.
- You want to liquidate a limited company in a tax-efficient way.
Are insolvency practitioners regulated in the UK?
Licensed insolvency practitioners have to follow strict ethical and legal standards when advising businesses in financial difficulty. They are legally required to be authorised and regulated by recognised professional bodies such as The Insolvency Practitioners Association (IPA) and The Institute of Chartered Accountants in England and Wales (ICAEW).
How to find a Licensed Insolvency Practitioner
To find a licensed insolvency practitioner near you, you can use the Government’s Find an Insolvency Practitioner search tool or look through the Insolvency Practitioners Association directory.
How The Liquidation Centre Can Help With Insolvency
The Liquidation Centre has a team of experienced insolvency practitioners who provide clear, practical advice tailored to your situation. Whether you need to find an insolvency practitioner for business rescue or liquidation, we’re here to help.
- We’re clear in our communication – Our team will always give regular updates on the liquidation, and we welcome emails and phone calls whenever you have questions or need clarification.
- We’re a team of licensed insolvency professionals – With over 20 years of experience, we’re proud to have won 5 Moneyfacts Awards for being the Best Business Recovery Specialists in the UK.
If you need insolvency advice, contact us today for a free, confidential consultation. Our team will talk you through your options to help decide on the best next step for your business.