Easy Exit Services Walkthrough: What Happens When You Wind Down a Company?

Jason Sullivan
Apr 23
2 min read

Updated: Jun 17

Winding down a company can feel overwhelming — especially if you’re unsure what to expect. Questions around legal compliance, personal liability, and timeframes often leave directors unsure where to begin. At Easy Exit Services, our goal is to make this process transparent, fast, and manageable.

In this guide, we walk you through the step-by-step process of winding down a business in the UK, including traditional routes and how Easy Exit Services supports directors looking for a cleaner, smarter alternative.

Step 1: Evaluate the Business Status

Before you begin, you must determine your company’s status:

Is it dormant or no longer trading?
Are there outstanding debts or tax obligations?
Are you under pressure from creditors or HMRC?

Answering these questions will determine whether you're eligible for a strike-off, need a formal liquidation, or are suitable for a business transfer solution like the one offered by Easy Exit Services.

Step 2: Consider Your Closure Options

There are typically 3 ways a UK director can close their company:

1. Voluntary Strike-Off (DS01)

For companies with no debts and no trading activity in the last 3 months.

Submit a DS01 form to Companies House
Pay a £10 fee
Must notify all stakeholders (creditors, employees, HMRC)

Cannot be used if the business has unpaid debts or is facing legal action.

2. Creditors’ Voluntary Liquidation (CVL)

For insolvent companies where debts cannot be repaid.

Requires appointment of a Licensed Insolvency Practitioner (IP)
Involves creditor meetings, asset sales, and Gazette publication
Can affect credit rating and future directorships

3. Easy Exit Services Business Transfer Pathway

If you don’t qualify for strike-off and want to avoid the cost, delay, and stigma of formal liquidation, Easy Exit Services may offer a faster, director-first option.

How it works:

Free consultation to assess eligibility
Business assets and obligations reviewed
The company is acquired by Easy Exit Services or its associates
You are released from operational and communication responsibilities
No IP involvement or court publication (subject to case review)

💬 “I got my life back within a week. They explained everything clearly and made the process stress-free.” – Julie C., Google Review

Step 3: Handle Final Compliance

Regardless of the method you choose, directors must ensure:

All tax filings and PAYE obligations are up to date
Business bank accounts are closed
HMRC is notified (particularly for VAT and Corporation Tax)
Assets are disposed of appropriately
Employees are informed and settled

Easy Exit Services helps coordinate and guide directors through these final steps, offering reminders and closure templates where needed.

Final Thoughts

Winding down your business doesn’t have to be painful or public. Whether you're planning proactively or responding to stress, understanding your options is the first step.

Easy Exit Services provides a modern, confidential path forward — one that simplifies exit planning and helps directors move on quickly.