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
Coman And Co Ltd
Chartered Tax Advisers and Chartered Certified Accountants, we offer assistance with tax return compliance and specialist tax consultancy services for...See More
Taxaccolega Chartered Accountants & Tax Advisers
As one of the brightest firms of chartered accountants in London, UK, Taxaccolega, based in Croydon, combines the passion and creative thinking of a s...See More
Cruse+Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Owadally & Kings Partnership
At O&K we aspire to be one of the most forward thinking accountancy firms in Croydon. Our dedicated in-house team, and external specialists, based in ...See More
Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Abu Umar & Co.
Welcome to Abu Umar & Co. We are a small Accounting firm, based in London, We specialize in dealing with all accounting problems. As we have been o...See More
APRC Accountants
We are a forward thinking firm of Chartered, Certified Public Accountants & Tax Advisers and Chartered Payroll Professionals established in 2005 in th...See More
Accounting Made Simple
Accounting Made Simple is a tech-savvy accountancy and bookkeeping organization located in London which assists clients to ru...See More
Future Formations Ltd
Future Formations is the new generation of forming companies; we have an expert team on hand to help you take the first step towards your future. Ba...See More
EFJ CONSULTING LTD
We are the firm of Chartered Certified Accountants based in London. We provide professional and practical help with all aspects of accountancy and tax...See More
Naail & Co Chartered Certified Accountants
We are a London based accounting firm, offering all round accountancy, taxation and support services to a wide range of businesses.<...
Earne
Ernst & Young Global Limited, commonly known as Ernst & Young or simply EY, is a multinational professional services firm headquartered in London, Eng...See More
Central London Accountants
We are proud partners of leading software provider firm Xero, and we can help if you require Xero Accountants in London, Xero training, or need remote...See More
London Accountants
We have been providing a range of tailored accounting and taxation services to individuals as well as small and medium sized businesses. See More
Cheap - Accountants
As a small business owner, your main focus is to work on your business strengths to help it grow, and you can’t just achieve it through juggling every...See More
Frequently asked questions
What is the difference between a creditors voluntary liquidation (CVL) and a members voluntary liquidation (MVL)?
A creditors voluntary liquidation (CVL) is used when a company is insolvent and cannot pay its debts as they fall due. The directors appoint a licensed insolvency practitioner to wind up the company's affairs and realise assets for the benefit of creditors. A members voluntary liquidation (MVL) is used when a company is solvent and directors wish to close it down, often for tax efficiency. In an MVL, the directors make a statutory declaration of solvency, and the company's assets are distributed to shareholders after all liabilities are settled.
What are the legal duties of directors when a company is insolvent in Beckenham?
Directors of an insolvent company have a legal duty to act in the best interests of creditors, not shareholders. They must avoid wrongful trading, which means continuing to trade when they know or should know that the company cannot avoid insolvent liquidation. Directors should seek professional advice immediately, review the company's financial position, and consider options such as CVL, administration, or a company voluntary arrangement (CVA). Failure to fulfil these duties can lead to personal liability, disqualification, or even criminal prosecution.
How much does company liquidation cost in Beckenham?
The cost of liquidation in Beckenham varies depending on the complexity of the case, the size of the company, and the chosen procedure. For a creditors voluntary liquidation (CVL), fees typically range from £3,000 to £7,000 plus VAT, but this can be higher for larger or more complex insolvencies. The liquidator's fee is paid from the company's assets, and in some cases, the director may need to fund the process if assets are insufficient. Always obtain a clear, fixed-fee quote before appointing a liquidator.
Can I keep trading if my company is insolvent?
If your company is insolvent, you can continue trading only if doing so does not worsen the position of creditors. Continuing to incur debts that you cannot pay may constitute wrongful trading, which can result in personal liability for those debts. The safest course is to seek immediate professional advice from a licensed insolvency practitioner. They can help you assess whether there is a viable rescue plan, such as a CVA, or whether liquidation is the appropriate step to protect creditors and avoid legal consequences.
What happens to employees when a company goes into liquidation?
When a company enters liquidation, employees are automatically dismissed from the date the liquidation order is made. The liquidator is responsible for ensuring that employees receive their statutory entitlements, including unpaid wages, holiday pay, and redundancy pay. These claims are preferential debts and are paid from the company's assets, but if funds are insufficient, employees can claim certain payments from the National Insurance Fund (via the Redundancy Payments Service). The liquidator will provide guidance on this process.
Can a director be personally liable for company debts after liquidation?
In most cases, directors of a limited company are not personally liable for company debts, as the company is a separate legal entity. However, personal liability can arise if a director has given a personal guarantee for a business loan or lease, or if they have engaged in wrongful trading, fraudulent trading, or misappropriation of company assets. The liquidator can pursue directors for recovery of funds in such cases. Seeking early professional advice can help mitigate these risks and ensure proper conduct throughout the liquidation process.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.