Dealing With Your Limited Company's Debts - GOV.UK

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1. Home
2. Business and self-employed
3. Selling your business and closing down

Dealing with your limited company's debts Skip contents

Contents

1. If your company cannot pay its debts
2. Responding to a court judgment
3. Responding to a statutory demand
4. Getting a winding-up order

If your company cannot pay its debts

Your limited company can be liquidated (‘wound up’) if it cannot pay its debts.

The people or organisations your company owes money to (your ‘creditors’) can apply to the court to get their debts paid.

They can do this by either:

• getting a court judgment
• making an official request for payment - this is called a statutory demand

Get professional advice from a solicitor or insolvency practitioner if your company is in debt.

Next:Responding to a court judgment View a printable version of the whole guide

Related content

• Liquidate your limited company
• Strike off your limited company from the Companies Register
• Wind up a company that owes you money

Explore the topic

• Selling your business and closing down

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