ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
Frequently asked questions
What is the role of a company liquidator in Aberdeenshire?
A company liquidator in Aberdeenshire is a licensed insolvency practitioner who winds up an insolvent company's affairs. Their role includes selling company assets, settling creditor claims in statutory priority, investigating director conduct, and formally dissolving the company with Companies House. They also ensure compliance with the Insolvency Act 1986 and protect creditors' interests throughout the process.
How much does company liquidation cost in Aberdeenshire?
The cost of a Creditor Voluntary Liquidation in Aberdeenshire typically ranges from £4,000 to £8,000 plus VAT, depending on company complexity, asset values, and creditor numbers. Most liquidators offer fixed-fee arrangements that cover statutory advertising, legal filings, and basic administration. We provide transparent quotes before you commit, and fees are paid from company assets, not out of your personal pocket.
Can I liquidate my company if it has no assets in Aberdeenshire?
Yes, you can liquidate a company with no assets, but this is often done via a Creditors' Voluntary Liquidation (CVL) if debts exceed £5,000. If there are no assets to cover liquidation costs, directors may consider a strike-off application instead, provided the company hasn't traded in the last three months and isn't subject to insolvency proceedings. Our liquidators can advise on the most cost-effective route for your situation.
What is the difference between a CVL and compulsory liquidation in Aberdeenshire?
A Creditors' Voluntary Liquidation (CVL) is initiated by directors when the company is insolvent, and shareholders pass a resolution to wind up voluntarily. Compulsory liquidation is a court-ordered process typically started by a creditor through a winding-up petition. CVL gives directors more control, avoids court proceedings, and is generally faster and less costly than compulsory liquidation.
Will I be personally liable for company debts after liquidation in Aberdeenshire?
In most cases, no. If you have acted honestly and not given personal guarantees, the liquidator's role is to settle debts from company assets, and directors are not personally liable for company debts. However, personal liability can arise if you have given personal guarantees, traded fraudulently, or misused company funds. Our liquidators will assess your conduct and advise on any potential risks before proceeding.
How long does a company liquidation take in Aberdeenshire?
The entire liquidation process in Aberdeenshire typically takes 6 to 12 months. The initial CVL meeting and appointment of the liquidator can happen within 2-4 weeks of your decision. After that, the liquidator realises assets, investigates claims, and distributes funds. The final dissolution of the company occurs after the liquidator files final accounts with Companies House, usually within 6-9 months of appointment.
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