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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Norbury Bookkeeping Services
We offer a complete bookkeeping and computerized payroll service throughout Cheshire and South Manchester and are able to offer support for all financ...See More
Sambhav Management Limited
Since 2012, we’ve offered clients the tools, resources and guidance necessary for all their accounting needs. Clients receive the personalized attenti...See More
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...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
GORILLA ACCOUNTING LIMITED
orilla Accounting was born after a group of specialist accountants with decades of experience amongst them, decided that accounting shouldn’t be a lab...See More
Athena Bookkeeping Services
Athena Accounting and Bookkeeping Services. ?Let us take good care of your finances giving you more time to focus on the day to day running of your bu...See More
Clarity Accountants
We work closely with our clients and act for a broad range of business and personal clients. Apart from the more general accountancy services we can a...See More
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...See More
ACCOUNTS 2U LIMITED
Our director, Howard Turner MAAT ATT, qualified as an accounting and taxation technician in 1995 after training with chartered accountants in Cheshire...See More
BROOKSON LIMITED
Why Brookson? There are plenty of reasons. We’re specialists at dealing with self-employed finances, and have been doing this for over 20 years, so we...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
HHR ACCOUNTANCY LTD
Accounting & Bookkeeping Solutions
MGM & CO. Chartered Certified Accountants
If you are looking for professional accountants offering a full range of accountancy and tax services to clients from across the UK, you have come to ...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
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
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
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...See More
Frequently asked questions
What is the difference between creditors voluntary liquidation and compulsory liquidation in Buxton?
Creditors voluntary liquidation (CVL) is initiated by the company's directors and shareholders when the company is insolvent but has not been forced into liquidation by a court. A licensed insolvency practitioner is appointed to wind up the company's affairs, and creditors are invited to a meeting to approve the liquidation. Compulsory liquidation, on the other hand, is a court-ordered process, usually triggered by a creditor presenting a winding-up petition. In compulsory liquidation, the Official Receiver or a court-appointed liquidator takes control of the company. Directors should seek professional advice immediately if they face either scenario, as the legal obligations and timelines differ significantly.
Can I continue trading if my company is in liquidation in Buxton?
No, once a company enters liquidation, the liquidator takes control of the business and its assets. Trading must cease immediately unless the liquidator specifically authorises continued trading for a limited period to sell stock or complete contracts that will benefit creditors. Continuing to trade while insolvent and without proper authority can lead to personal liability for wrongful trading, disqualification as a director, or even criminal penalties. If you believe your company is insolvent, it is crucial to stop trading and consult a licensed liquidator in Buxton as soon as possible to protect your legal position.
What are the costs of hiring a company liquidator in Buxton?
The cost of liquidation in Buxton varies depending on the complexity of the company's affairs, the number of assets and creditors, and the amount of work required to realise assets and distribute funds. Typically, fees are based on an hourly rate or a fixed fee agreed before the liquidation begins. In many cases, the liquidator's fees are paid from the company's assets, but if there are insufficient assets, directors may need to fund the liquidation personally or seek a creditor's voluntary arrangement. We offer a free initial consultation and provide a transparent, written quote before you commit to any process.
What happens to company directors after liquidation in Buxton?
After liquidation, directors are released from their duties to manage the company, but they must cooperate fully with the liquidator by providing books, records, and explanations of the company's affairs. Directors may be investigated for potential misconduct, such as trading while insolvent, preferential payments, or breach of fiduciary duty. If no misconduct is found, directors can continue their careers without restrictions. However, if serious issues are discovered, they could face personal liability, disqualification as a director for up to 15 years, or in rare cases, criminal prosecution. Seeking early professional advice can significantly reduce these risks.
Can I liquidate a company with no assets or money in Buxton?
Yes, it is possible to liquidate an insolvent company with no assets, but you will need to consider how the liquidator's fees will be paid. In a creditors voluntary liquidation, the company must have sufficient assets to pay for the liquidation process, or the directors may need to contribute funds personally. Alternatively, a company with no assets and no creditors may be struck off from the Companies House register, which is a cheaper and simpler process. However, striking off is not suitable if the company has significant debts or if creditors object. Our liquidators in Buxton can assess your situation and recommend the most appropriate and cost-effective solution.
How long does the liquidation process take in Buxton?
The duration of a liquidation in Buxton typically ranges from 6 to 12 months, but it can be longer for complex cases involving litigation, asset recovery, or disputes among creditors. The liquidator must first realise all assets, agree claims with creditors, and then distribute funds. The process concludes with the final meeting of creditors and the dissolution of the company. Delays can occur if there are outstanding tax investigations, legal challenges, or if the company's records are incomplete. Your liquidator will provide a realistic timeline based on your specific circumstances and keep you informed throughout the process.
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