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
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Kings Oak Accountancy
Accountants based in Bristol, Bath & Somerset providing accounting and tax services to small and medium size owner-managed businesses. Our services in...See More
KINGS OAK ACCOUNTANCY (SOMERSET) LTD
We are a small firm of Accountants based in Somerset. Michael is a fellow of the Chartered Institute of Management Accounting with over 30 years expe...See More
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.
Williamslester Brilliant Accounting Services
Our range of services are provided by fully qualified and experienced staff who always monitor, advise and review both new and existing clients. This ...See More
TKI Bookkeeping & Accounts
Hello and welcome to my site, I am qualified by the The Institute of Certified Bookkeepers and have attained highest level qualification, Level 4 Dipl...See More
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MARLIS BOOKKEEPING & ACCOUNTANCY
The team comprises of Marion and Lisa, a mother and daughter combination, who offe...
Purnells - Licensed Insolvency Practitioners
As insolvency practitioners we also specialise in interpreting the legislation set out in The Insolvency Act 1986, The Insolvency (England and Wale...
Woody's Payroll & Bookkeeping Services
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Financial Claims Consultants
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Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
SG CONTRACTOR ACCOUNTING LIMITED
SG Accounting was established in 1995 to service the accountancy and taxation needs of professional contractors and freelancers. We are based in Winc...See More
Modus Accountants Limited
Whether you are looking for advice, inspiration, accountancy services or all three, our integrated services will provide as much or as little su...See More
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R Albert Accountancy Ltd
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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
Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More
ADD- WORTH ACCOUNTANCY LTD
Helping business owners make sense of their numbers. 30+ years of progressive finance and accounting experience in various industries. Offering expert...See More
Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...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
Frequently asked questions
What is the difference between a CVL and compulsory liquidation in Axbridge?
A creditors voluntary liquidation (CVL) is initiated by the company's directors and shareholders when the business is insolvent, allowing them to appoint a liquidator of their choice. Compulsory liquidation is a court-ordered process, typically started by a creditor through a winding-up petition. In a CVL, directors retain more control over the process and can choose the liquidator, whereas in compulsory liquidation, the Official Receiver initially handles the case. Our team can advise which route is appropriate for your specific circumstances.
How much do company liquidators in Axbridge charge for their services?
Liquidation costs vary depending on the complexity of the case, the size of the company, and the amount of asset realisation work required. Most liquidators charge on a time and disbursement basis, with fees drawn from the company's assets. In some cases, if there are no assets, creditors may agree to fund the liquidation. We provide a detailed fee estimate upfront and ensure transparency throughout the process, so you know exactly what to expect.
Can I continue trading if my company is in liquidation?
No, once a company enters liquidation, the liquidator takes control of the business and its assets. The company's powers to trade cease, except for the liquidator's ability to continue trading temporarily to achieve a better outcome for creditors. Directors must not trade during liquidation as this could lead to personal liability for debts incurred. If you want to continue trading, alternatives like administration or a CVA might be more suitable, and we can discuss these options with you.
What are the legal responsibilities of directors during liquidation in Axbridge?
Directors have a duty to cooperate fully with the liquidator, providing all books, records, and information about the company's affairs. They must also attend meetings if required and answer questions under oath. Directors must not dispose of company assets or conceal any property. Failure to comply can result in personal liability, fines, or disqualification as a director. Our team guides you through these duties to ensure you meet all legal obligations.
How long does the liquidation process take in Axbridge?
The length of liquidation depends on the complexity of the case. A straightforward CVL can often be completed within six to twelve months, but cases with complex asset realisation, legal disputes, or investigations may take longer. The liquidator must file final accounts with Companies House and notify creditors of the completion. We aim to conclude the process as efficiently as possible while ensuring all statutory requirements are met.
Will I be personally liable for my company's debts after liquidation?
Generally, directors are not personally liable for company debts if the company is insolvent and has been properly liquidated. However, personal liability can arise if you have given personal guarantees, engaged in wrongful or fraudulent trading, or misused company funds. Our insolvency experts can review your situation to identify any potential risks and advise on how to protect your personal assets.
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