Closing the trade and closing the company need separate decisions
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Turning off production and locking the premises do not by themselves answer what should happen to the company. Keep the operational end of trading and the formal company question on separate, connected adviser agendas.
GOV.UK's company closure guidance describes different routes according to the company's circumstances and financial position. Ask qualified advisers which route is appropriate and what conditions apply. This page is a planning distinction, not instructions for dissolving a company.
Agenda one: what will stop operating?
Describe the final customer work, premises arrangements, staff proposal, equipment use and continuing administration. Identify the dates currently expected and the evidence supporting them.
The useful output is an operational plan showing what remains to be done and who will do it. The closure scope statement can explain whether all activity ends or whether part may continue elsewhere.
An equipment sale belongs within this operating picture. It may release resources no longer needed, but it does not complete the company process or remove the need to deal with remaining obligations.
Agenda two: what will happen to the company?
Take the current financial records, assets, liabilities, contractual questions and proposed transactions to the accountant and solicitor. Ask what further advice is required, what decisions need formal approval and what responsibilities continue while the chosen route is pursued.
The accountant brief helps distinguish current figures from estimates. If the ability to meet obligations is uncertain, seek appropriate insolvency advice promptly rather than treating a planned sale as the answer.
Avoid setting a formal company end date solely to match the owner's personal retirement target. The appropriate sequence needs to be established from the facts and professional advice.
Connect the two agendas with evidence
A fictional company finishes its last order but still has unresolved account queries and equipment to deal with. The operating milestone can be recorded as achieved while the adviser agenda remains open. Calling the entire closure complete would hide the work that continues.
Record the dependencies between the agendas. An adviser may need updated asset information; the operational coordinator may need a confirmed authority route. Each request should have a named owner and a clear recipient.
When speaking to UK Auction Group, explain the current trading position and the status of company advice. The auctioneer needs the properly established seller, scope and instructions. Keep the wider formal decisions with the authorised people and relevant professionals, so an empty workshop is recognised as one milestone rather than evidence that every company responsibility has ended.
Explore advisers and sale authority.
Sources
- GOV.UK: Closing a limited company Checked
- UK Auction Group: business closure Checked
This guide is general information and education only. Legal, tax, employment and safety decisions may need a qualified adviser who knows your situation. Read the disclaimer.