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
OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
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APRC Accountants
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Cruse+Burke
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Owadally & Kings Partnership
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Cruse + Burke
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Taxaccolega Chartered Accountants & Tax Advisers
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Tax Cruncher
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Central London Accountants
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Cheap - Accountants
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TITUS ACCOUNTS LTD
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Abu Umar & Co.
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Fitzgeralds Accountants Limited
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Coman And Co Ltd
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" Accountify – Chartered Certified Accountants"
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Financial Partnership London
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Frequently asked questions
What is the difference between a CVL and an MVL in Brighton?
A Creditors Voluntary Liquidation (CVL) is used when a company is insolvent, meaning it cannot pay its debts as they fall due. An MVL (Members Voluntary Liquidation) is used for solvent companies where directors wish to close the business and distribute assets to shareholders. In a CVL, creditors are involved in the process, whereas in an MVL, shareholders control the process and the liquidator confirms solvency.
How much does company liquidation cost in Brighton?
The cost of liquidation varies depending on the complexity of the company's affairs, the number of creditors, and the assets involved. For a straightforward CVL, fees typically range from £4,000 to £8,000 plus VAT, but we always provide a fixed fee quote after a free initial consultation. MVL costs are often lower for simple solvent closures. Our pricing is transparent with no hidden charges.
Can directors be held personally liable for company debts in Brighton?
Directors are generally not personally liable for company debts if the company is liquidated properly. However, personal liability can arise if there has been wrongful trading, fraudulent trading, or if directors have given personal guarantees. Our insolvency practitioners will review your conduct and advise on any potential risks before proceeding with liquidation.
How long does the liquidation process take in Brighton?
A typical CVL can be completed within 6 to 12 months, but the exact timeline depends on the complexity of the case, the realisation of assets, and the resolution of creditor claims. An MVL can often be completed more quickly, sometimes in as little as 3 to 6 months. We work efficiently to close your company as soon as legally possible.
What happens to employees when a company goes into liquidation in Brighton?
When a company enters liquidation, employees are automatically made redundant. The liquidator will provide the necessary documentation, and employees can claim statutory redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund (via the Redundancy Payments Service). We guide you through the employee notification process and ensure all legal requirements are met.
Can I continue trading after my company is liquidated in Brighton?
Once a company is in liquidation, it ceases trading immediately. However, as a director, you are not prevented from starting a new business, subject to certain restrictions. If you buy assets from the liquidator, you must pay fair market value. We can advise on how to structure a new venture to avoid issues such as 'phoenix' claims from creditors.
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