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
SAFEBOOKS4U BOOKKEEPING SERVICES
For all Your Bookkeeping Needs Safebooks4u specializes in a variety of bookkeeping services with outstanding support. We understand how busy you are,...See More
.jpg)
Additions Accountancy
Welcome to Additions Accountancy Looking for Grantham Accountants? We are a firm of accountants in Grantham with a strong customer service ethos and ...See More
HHR ACCOUNTANCY LTD
Accounting & Bookkeeping Solutions
.png)
FLEXIE ACCOUNTANTS LTD
Flexie Accountants is a reputable accounting firm, providing accounting, finance and tax services to sole traders, partnership and Limited companies. ...See More
Msi Accountancy Services
At MSI - Accountants & Bookkeepers - We have a strong network of Accountants, Bookkeepers & Tax Advisors who are very friendly and down to earth and a...See More
Zak Partnership
The Zak Partnership have long recognized the importance of working closely with both our clients and our broader partner supplier community as a whole...See More
T.Y.E BOOKKEEPING LTD
For all your bookkeeping needs from self assessments, VAT returns, EC Sales List, general bookkeeping for sole traders or small businesses. I work on ...See More
Figures (UK) Accountancy Services
Figures UK takes a different approach to company book keeping and accountancy work – you won’t find us hunched in grey suits between stacks of files. ...See More
Mind Your Assets Accounts
Mind Your Assets Accounts is based in Sheffield, South Yorkshire, with offices also in Manchester and London. We have over 20 years accountancy expe...See More
LeeP Accountants Registered in England & Wales
Welcome to LeeP Accountants! We are a team of friendly and professional accountants based in Peterborough, Cambridgeshire. We have one key goal ...
Virtue Accountants Ltd
Bird & Co
Bird & Co was formed by local Yaxley accountant Pete Bird and we now serve not only clients in the Yaxley and Peterborough area, but more widespread a...See More
Matrix Accountancy Services Limited
Will Farmer FMAAT, AAT Licensed Accountant and Director of Matrix Accountancy Services Limited Hi I'm Will, In 2012 I...
Matrix Accountancy Services
"Offering a friendly and professional service, I provide ongoing advice and support for every stage of your business journey. As an AAT Licensed Acc...See More
Pharmatax
Pharmatax is a leading specialist in pharmacy accounting, offering tailored services that go beyond traditional bookkeeping. O...See More
Accounting 4 Ltd
Registered practice offering accountancy services from Bookkeeping, Payroll, Vat, Self Assessment, Small Limited Company accounts etc Qualified to AAT...See More
Business Partners Accountants & Bookkeepers
An accounting firm for all your accounting and bookkeeping needs Business Partners Accountants & Bookkeepers is a reputable accounting firm serving so...See More
J C Accounting Ltd
J C Accounting Ltd offer the type of bespoke service that larger Accountants can’t. We specialise in Sole Traders, Partnerships and Small Limited Com...See More
Frequently asked questions
What is the difference between a Creditors Voluntary Liquidation (CVL) and a Compulsory Liquidation?
A Creditors Voluntary Liquidation (CVL) is initiated by the company's directors and shareholders when the company is insolvent, meaning it cannot pay its debts as they fall due. The process involves appointing a licensed insolvency practitioner to wind up the company's affairs. Compulsory Liquidation, on the other hand, is a court-ordered process, usually triggered by a creditor (such as HMRC) presenting a winding-up petition. In a CVL, the directors retain control of the process, whereas in a compulsory liquidation, the court appoints an Official Receiver initially, who then may appoint a liquidator. Both processes ultimately result in the company being dissolved, but the procedures, costs, and levels of control differ significantly.
How much does it cost to liquidate a company in Bingham?
The cost of liquidation varies depending on the complexity of your company's affairs, the number of assets and creditors, and the type of liquidation required. For a straightforward Creditors Voluntary Liquidation (CVL), fees typically range from £3,000 to £6,000 plus VAT and disbursements. However, our firm offers competitive fixed-fee packages for standard cases, and we always provide a clear, written quote before any work begins. During your free initial consultation, we will assess your situation and give you an accurate estimate. There are no hidden charges, and we will explain all potential costs upfront, including any disbursements for statutory advertising or postage.
Can I liquidate a solvent company in Bingham? What is an MVL?
Yes, if your company is solvent (able to pay all its debts in full, including interest, within 12 months), you can use a Members Voluntary Liquidation (MVL). This is a formal process designed to wind up a solvent company, often for tax efficiency purposes, such as extracting retained profits as capital gains rather than income tax. An MVL requires a statutory declaration of solvency from the directors, and a licensed insolvency practitioner is appointed as liquidator. The process typically takes around 6 to 12 months, after which the company is dissolved and any undistributed assets are distributed to shareholders. We can advise on whether an MVL is the right choice for your circumstances.
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 (for compulsory) or the date the resolution is passed (for CVL). The liquidator is responsible for ensuring employees receive their statutory redundancy pay, unpaid wages, holiday pay, and notice pay. These claims are preferential and are paid from the company's assets, but if there are insufficient funds, employees can claim certain payments from the National Insurance Fund (via the Redundancy Payments Service). As your liquidator, we will provide each employee with the necessary forms (RP1, RP2, etc.) and guide them through the claims process to ensure they receive all entitlements they are owed.
Can I continue trading after my company has been liquidated?
No, once a company enters liquidation, it ceases to exist as a legal entity, and you cannot continue trading under the same name or a similar name that could be confused with it. However, you are free to start a new business, but there are restrictions under the Insolvency Act 1986. If you were a director of a company that went into insolvent liquidation, you may be subject to a restriction or disqualification order, which can limit your ability to act as a director of another company for a specified period. Additionally, you cannot use a 'phoenix' company name that is the same or similar to the liquidated company's name without permission from the court or the liquidator. We can advise you on the legal implications and help you plan your next steps.
What are the duties of a director during a liquidation process?
Directors have a statutory duty to cooperate fully with the liquidator. This includes providing all company records, financial statements, and any other relevant information. You must also attend meetings with the liquidator if required and answer questions about the company's affairs. Directors must not dispose of any company assets without the liquidator's consent, and they must not conceal or destroy records. If you have acted in good faith and complied with your duties, you will not face personal liability, but the liquidator may investigate transactions that occurred before liquidation, such as preferential payments or transactions at an undervalue. Our team will guide you through your obligations and help ensure you avoid any potential pitfalls.
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.