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
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
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
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Taxaccolega Chartered Accountants & Tax Advisers
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OVAL ACCOUNTANTS LTD
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APRC Accountants
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SARA COOPERS ACCOUNTANTS LTD
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AWS ACCOUNTANTS (LONDON) LLP
MONEYTREE FINANCIAL LTD
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Marden & Co Accountants Ltd
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Coman And Co Ltd
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Accounting Made Simple
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Abu Umar & Co.
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TaxAssist Accountants
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Future Formations Ltd
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Frequently asked questions
What are the signs that my company in Brenchley needs liquidation?
Key signs include inability to pay debts as they fall due, creditor pressure or legal action, persistent cash flow problems, loss of a major client, and declining profitability. If you are concerned about solvency, seek professional advice immediately to avoid wrongful trading.
What is the difference between a CVL and an MVL for a Brenchley company?
A Creditors Voluntary Liquidation (CVL) is used for insolvent companies where creditors are owed money and assets are insufficient to repay all debts. A Members Voluntary Liquidation (MVL) is for solvent companies, often used by directors to extract retained profits tax-efficiently when closing a business.
How much do company liquidators in Brenchley charge?
Fees vary based on complexity, asset values, and creditor numbers. Many liquidators offer fixed fees for straightforward CVLs, typically ranging from £4,000 to £8,000 plus VAT and disbursements. Always request a detailed quote before proceeding.
Can I keep trading after appointing a liquidator?
No. Once a liquidator is appointed, their control over the company begins. Trading must cease immediately unless the liquidator agrees to continue for a short period to complete work in progress or sell assets, but this is rare and requires their consent.
What happens to company assets during liquidation in Brenchley?
The liquidator takes control of all company assets, including property, equipment, stock, and intellectual property. They will value and sell these assets to generate funds for creditors, following strict legal rules on distribution priorities.
Will I be personally liable for company debts after liquidation?
Generally, no, as a limited company provides a shield. However, personal liability can arise if you have given personal guarantees, engaged in fraudulent or wrongful trading, or misused the company's funds. A liquidator will investigate your conduct.
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