ACCOTAX - Accountants & Tax Consultants
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HUBBLE ACCOUNTANCY LTD
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
TKI Bookkeeping & Accounts
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Modus Accountants Limited
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MRC Accounting Services
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Capital Accountancy - Accountants & Tax Advisors
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Naseems Accountants
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AMSTOR ACCOUNTANTS LIMITED
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Frequently asked questions
What is a Company Liquidator in Ashford and when do I need one?
A company liquidator in Ashford is a licensed insolvency practitioner who manages the formal closure of a company. You need one when your company is insolvent (unable to pay debts as they fall due) and you wish to enter Creditors Voluntary Liquidation (CVL), or if your company is solvent and you want to close it via Members Voluntary Liquidation (MVL). They take control of realising assets, settling creditor claims, and dissolving the company.
How much does company liquidation cost in Ashford?
The cost of company liquidation in Ashford varies based on complexity, asset value, and creditor numbers. For a Creditors Voluntary Liquidation (CVL), typical fees range from £4,000 to £8,000 plus VAT, often paid from company assets. For a solvent Members Voluntary Liquidation (MVL), fees are usually fixed between £2,500 and £5,000. We provide a fixed-fee quote after a free initial assessment, with no hidden costs.
Can I continue trading if my company is in liquidation?
No. Once a liquidation order is made (either CVL or compulsory), the liquidator takes control of the company, and trading must cease immediately. However, in some cases, the liquidator may allow limited trading to complete existing contracts or sell stock, but only with their explicit permission. Continuing to trade while insolvent without approval could lead to personal liability for wrongful trading.
What is the difference between CVL and MVL in Ashford?
Creditors Voluntary Liquidation (CVL) is used for insolvent companies where debts cannot be paid. It protects the company from legal action and allows an orderly wind-down. Members Voluntary Liquidation (MVL) is for solvent companies that have sufficient assets to pay all debts, often used to extract retained profits tax-efficiently. Both require a licensed liquidator, but the procedures and outcomes differ significantly.
Will I be personally liable for company debts after liquidation in Ashford?
Generally, no. If you have acted honestly and not given personal guarantees, liquidation protects you from personal liability for company debts. However, if you have given personal guarantees to lenders or landlords, those creditors can pursue you personally. Also, if you have traded wrongfully, fraudulently, or misused funds, the liquidator may seek a court order for personal contribution. We advise on these risks during your consultation.
How long does the liquidation process take in Ashford?
A Creditors Voluntary Liquidation (CVL) typically takes 6 to 12 months to complete, depending on asset realisation and creditor claims. A solvent Members Voluntary Liquidation (MVL) can often be completed in 3 to 6 months. The process includes appointing the liquidator, notifying creditors, realising assets, distributing funds, and finally dissolving the company with Companies House.
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