The company has to be solvent (able to pay its debts when they fall due) before it can be liquidated voluntarily.  The following should be filed with the Registrar within 28 days of the commencement of the liquidation:

• Form 19: Notice of Voluntary Winding up
• Form 20: Liquidator’s consent to act
• Form 21: Declaration of Solvency
• Special Resolution/Evidence of event or expiration of the period stated in Articles that would result in the liquidation of the company

Upon completion of the winding up (liquidation) process the liquidator should, within 7 days of the Final General Meeting, file with the Registrar:

• Form 37: Notice of Dissolution

Voluntary liquidation is used when the company is solvent (able to pay its debts when they fall due) and has passed a resolution that they wish to be wound up or an event has occurred or a period of time elapsed as specified in its articles of association.