Closing / Winding Up a Business

[VEX]

Well the time has come to admit defeat.

I need to close my business (I have found alternative employment) but the LTD company can not meet its smallish amount of debts.

I have been looking around to the web to find out how to do it and the best way I can see is a Creditor Volentary Liquidation, but as I have already liqudated most of the assets to try to pay of the debt is this the best / simplest way to go?

I will be talking to my accountant soon, but he is on holiday at the mo and I just want to get an idea of what is involved.

Thanks

V.