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
QUENTELA ACCOUNTING LIMITED
Quentela Accounting is a family run accountancy practise based in Wokingham, Berkshire. We are a small business but with an emphasis on BIG commitment...See More
TITUS ACCOUNTS LTD
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DIrect Assist accountants Ltd
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BARNES MAYER LIMITED
Barnes Mayer Ltd is an independent, family run business providing accounting and taxation services throughout Maidenhead, Berkshire and Buckinghamshir...See More
Accounting etc. limited
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The Bean Counters Accountants LLP
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EXPEDIENT ACCOUNTANCY
Expedient Accountancy Limited provides a wide range of expert accounting services. We are a partnership of 3 Chartered Certified Accountants with more...See More
Hayes Accountants
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Turner Barratt
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City Tax London
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DEAD SIMPLE ACCOUNTING LTD
Dead Simple Accounting is an expert accounting firm based in Reading, Berkshire. We’ve been supporting the local business community in Reading with a ...See More
MINT FORMATIONS LTD
We have over 100 years of combined industry experience, having worked with hundreds of startups and small businesses in every industry imaginable. We ...See More
Yourtaxhelp
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Taxeasy Ltd
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Financial Partnership London
The Financial Partnership LLP, London, is a young, dynamic and innovative firm of Accountants & Business Advisors who can help improve the performance...See More
Numerii Ltd
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MAKESWORTH LIMITED
Makesworth
Accountants is an award-winning accountancy practice of Chartered
Certified Accountants tax and business advisors. We a...
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Tax Cruncher
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Frequently asked questions
What is the difference between creditors voluntary liquidation and members voluntary liquidation in Ascot?
Creditors voluntary liquidation (CVL) is used when a company is insolvent and cannot pay its debts, initiated by directors to wind up affairs with creditors. Members voluntary liquidation (MVL) is for solvent companies, where shareholders declare solvency and the company distributes assets to shareholders tax-efficiently. Both require a licensed insolvency practitioner.
How much do company liquidators in Ascot charge?
Fees vary based on company complexity, asset realisation, and the type of liquidation. For a CVL, typical fees range from £3,000 to £6,000 plus VAT, but many Ascot firms offer fixed fees or payment plans. An MVL may cost between £2,500 and £5,000. Always request a written quote before engaging a liquidator.
Can I continue trading after appointing a liquidator in Ascot?
No. Once a liquidator is appointed, they take control of the company, and directors lose authority to trade or manage assets. However, the liquidator may continue trading briefly to sell stock or complete contracts for the benefit of creditors. You must cease all trading activities immediately upon appointment.
What are the legal duties of directors during liquidation in Ascot?
Directors must cooperate fully with the liquidator, provide all company records and financial information, and attend meetings as required. They must not conceal assets or prefer certain creditors. Failure to comply can lead to personal liability, disqualification, or even criminal prosecution.
Will I be personally liable for company debts after liquidation in Ascot?
Generally, no. Limited liability protects directors from personal responsibility for company debts if they have acted lawfully. However, personal liability can arise if you have given personal guarantees, traded wrongfully, or misused funds. A liquidator will investigate and may pursue recovery in such cases.
How long does a company liquidation take in Ascot?
A creditors voluntary liquidation typically takes 6 to 12 months to complete, depending on asset realisation and creditor claims. A members voluntary liquidation can be faster, often 3 to 6 months. Complex cases with legal disputes or asset recovery may extend beyond this timeline.
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