Our editorial standards

LTD Turnaround is an independent information service, not a law firm or a practitioner. The guidance here is written and maintained by our in-house editorial desk and is general information only, not regulated insolvency advice for your specific company. We work from primary UK sources, the Insolvency Act 1986, gov.uk and the Insolvency Service, HMRC, Companies House and The Gazette, and we date every page so you can see when it was last updated. For advice on your own situation, speak to a Licensed Insolvency Practitioner. Only a licensed practitioner can legally act as a liquidator or administrator, and every one is authorised by a recognised professional body and listed on the Insolvency Service register, which you can check yourself before you speak to anyone. Where that is the right route for you, we will say so and point you to how to find one. Insolvency Service register

How we produce the guidance on this site

Our content is produced by an in-house editorial desk rather than by named individual authors. We do this deliberately: insolvency is a high-stakes area, and we would rather be judged on whether the information is accurate, sourced and current than attach a personal byline. Every guide, tool and answer is researched against primary UK sources and cites them where it matters, so you can verify the position for yourself. We update pages as the law and the official figures change, show the date of the last change, and correct errors promptly when they are pointed out. Our full approach is set out in our editorial policy and our data methodology.

Crucially, nothing on this site is a substitute for advice on your own company. Every page carries that reminder, and the pages that touch personal liability say plainly when you should speak to a Licensed Insolvency Practitioner before acting.

Licensed Insolvency Practitioners

Acting as a liquidator or administrator without a licence is a criminal offence, and unregulated "advisers" who sit between a worried director and a real practitioner are a known problem in this sector. A genuine Licensed Insolvency Practitioner is authorised and regulated by a recognised professional body. In the UK these bodies include the Institute of Chartered Accountants in England and Wales (ICAEW), the Institute of Chartered Accountants of Scotland (ICAS) and the Insolvency Practitioners Association (IPA); the Insolvency Service publishes the full current list, and every licensed practitioner appears on its public register, which you can check yourself. Our guide on how to choose a Licensed Insolvency Practitioner sets out the questions to ask before you speak to anyone.

What happens when you get in touch

Tell us what's happening and our editorial desk reviews it, then replies with what we think the right next step is. Where speaking to a Licensed Insolvency Practitioner looks like the right route, we will say so and point you to how to find one. Getting in touch does not itself appoint anyone or create a professional engagement. See what happens when you get in touch for the detail, and how we are funded.

How to verify a practitioner yourself

You never have to take our word for it. Anyone acting as a liquidator or administrator must appear on the Insolvency Service register of practitioners. Our accreditations page lists our own registration details so you can verify who you are dealing with.