When your company is in financial distress, it can be difficult to deal with the pressure alone. Rather than dealing with the pressure alone, it can be beneficial to seek the guidance of an Insolvency Practitioner (IP). The role of an IP includes assessing your company’s current financial situation and using their professional advice to understand what action needs to be taken.
Keeli MacMillan
Content Marketing Executive
April 10, 2025
Then let the Liquidation Centre help you navigate your company’s situation by taking advantage of our free no no-obligation company health check today.
Our team of in-house liquidation experts will:
An Insolvency Practitioner (IP) is a licenced professional who can legally advise and act on behalf of both solvent and insolvent companies during the liquidation process. As regulated professionals, IPs are fully qualified, skilled liquidation experts and can offer a range of support for people like you, looking to close down their limited companies in a structured and timely manner.
A company cannot enter into a voluntary liquidation process without an IP being appointed. They are there to ensure that everyone involved adheres to the legalities of the liquidation, oversees the process in a professional and organised manner, and treats everyone involved fairly.
Whether you are looking for a solvent or insolvent liquidation, you will need to nominate an IP.
Prior to the appointment, a licenced Insolvency Practitioner can offer you advice and guidance on what liquidation options are available to you based on your company’s financial situation.
During liquidation, the role of an IP includes conducting the liquidation process. Examples include (amongst other duties) valuing and selling the assets, making payments to creditors, investigating the company’s affairs and the directors’ conduct (insolvent liquidation), and notifying parties such as Companies House and the Gazette.
If you would like to speak to a licensed and professional IP today, then contact The Liquidation Centre. We are here to keep liquidations simple.
Yes. Insolvency Practitoners are regulated under the Insolvency Act 1986 and will undergo regular inspections.
Choosing the right IP is important as they will be your first point of contact and support throughout the process to begin the liquidation. Ensuring you are able to trust and understand the role of an IP will help your company’s liquidation commence with the least amount of stress possible.
When searching for the right IP, ensure that you:
We have over 20 years of liquidation experience, so you can be sure that we have the knowledge and expertise to guide you through.
If you know someone who has been through a liquidation, they may be able to recommend an IP based on their experience. You may also find that your accountant or other financial professional offers recommendations.
Accountants and previous clients regularly recommend our liquidation services, so you can be sure of a high quality you can trust.
Some companies offer insolvency and liquidation advice without being qualified or licensed to do so. A reputable and qualified IP will have their credentials available on their website or upon request.
The Liquidation Centre’s IPs are regulated under the Insolvency Act 1986, and they all have completed their JIEB (Joint Insolvency Examination Board) set of examinations, so you can trust their service and advice.
A respected liquidation company will have a host of online reviews about its IP’s personal and company-wide service. Visit our testimonial page.
In the first instance, we will offer a free, no-obligation call to assess your company’s situation. By speaking to an expert on the phone or in person, you can establish whether they are the right professional to proceed with.