LLP Winding Up Services

Voluntary and Tribunal Winding Up of a Limited Liability Partnership

When a Limited Liability Partnership has served its purpose or is no longer viable, it can be brought to a close through winding up. An LLP may be wound up voluntarily by its partners or by the Tribunal in certain circumstances. Voluntary winding up involves partner resolutions, a declaration of solvency, appointment of a liquidator, settlement of liabilities, and eventual dissolution. For simply defunct LLPs, striking off may be a quicker alternative.

Our LLP winding up services guide partners through the entire closure process, ensuring resolutions, approvals, and filings are completed correctly. Where the LLP is defunct and eligible, we can instead pursue striking off through Form 24. Winding up should follow completion of pending filings such as the statement of account and solvency, all within our LLP compliance services.

Our LLP Winding Up Services

Winding Up Advisory

Advising on the right closure route — voluntary winding up, Tribunal winding up, or striking off.

Voluntary Winding Up

Managing the voluntary winding up process from partner resolution to dissolution.

Partner & Creditor Resolutions

Drafting partner resolutions and obtaining creditor approvals required for winding up.

Liquidation Support

Support with appointment of the liquidator and realisation and distribution of assets.

Final Accounts & Dissolution

Preparing final accounts and completing the steps leading to dissolution of the LLP.

Striking Off Alternative

Assessing and pursuing strike-off where the LLP is defunct and eligible for the simpler route.

Benefits of a Properly Managed Closure

The right closure route for the LLP’s situation
Correct partner and creditor approvals
Orderly settlement of liabilities and assets
Compliant final accounts and dissolution
A faster strike-off option where eligible
A clean end to the LLP without lingering liabilities

Frequently Asked Questions

How is an LLP wound up?

An LLP can be wound up voluntarily by its partners or by the Tribunal. Voluntary winding up involves passing a resolution, making a declaration of solvency where applicable, obtaining creditor approval, appointing a liquidator to settle affairs, and completing the steps leading to dissolution of the LLP.

What is the difference between winding up and striking off?

Winding up is a formal process of settling an LLP’s affairs, realising assets, paying liabilities, and dissolving it. Striking off is a simpler route available to defunct LLPs that are not carrying on business, allowing the name to be removed from the register through Form 24 without full liquidation.

What is voluntary winding up of an LLP?

Voluntary winding up is closure initiated by the partners themselves rather than by the Tribunal. It requires the partners to resolve to wind up, make the required declarations, obtain creditor consent where needed, and appoint a liquidator to wind up the LLP’s affairs before dissolution.

Can an LLP with debts be wound up?

An LLP with outstanding liabilities can be wound up, but the process must account for its creditors. Where the LLP cannot declare solvency, creditor involvement and approvals become central, and the liquidator must settle liabilities from the LLP’s assets as part of the winding up.

How long does LLP winding up take?

The time depends on the LLP’s affairs, assets, and liabilities. A straightforward voluntary winding up of a solvent LLP with few obligations is quicker, while cases involving creditors, asset realisation, or disputes take longer. Striking off a genuinely defunct LLP is generally the faster option where available.

Close Your LLP Cleanly and Compliantly

Expert support for voluntary winding up and closure of a Limited Liability Partnership.