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
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
Frequently asked questions
What is the role of a company liquidator in Cambs?
A company liquidator in Cambs is a licensed insolvency practitioner who manages the formal closure of an insolvent company. They take control of company assets, sell them to repay creditors, investigate director conduct, and ensure legal compliance. They also handle employee claims, HMRC negotiations, and final dissolution of the company.
How much does company liquidation cost in Cambridgeshire?
Costs vary based on complexity, asset value, and creditor numbers. For a Creditors Voluntary Liquidation (CVL), typical fees range from £4,000 to £8,000 plus VAT, but we offer fixed-fee packages with no hidden extras. Members Voluntary Liquidation (MVL) for solvent companies often costs between £2,500 and £5,000. We provide a free quote after reviewing your situation.
How long does the liquidation process take in Cambs?
A straightforward CVL usually completes within 6 to 12 months, including creditor meetings, asset realisation, and final dissolution. MVL can be faster, often finishing in 3 to 6 months. Delays may occur if assets are complex or if HMRC requires additional information. Our team accelerates the process by handling paperwork efficiently.
Can a director avoid personal liability during liquidation?
Yes, if you act in good faith and follow legal duties, you can avoid personal liability. However, wrongful trading, fraudulent trading, or misusing company funds can lead to personal claims. Our liquidators provide pre-liquidation advice to help you document decisions, pay preferential creditors, and avoid penalties. We guide you to minimise risk.
What is the difference between CVL and MVL?
CVL is used for insolvent companies where liabilities exceed assets, and it involves a creditors' meeting. MVL is for solvent companies where directors wish to close voluntarily, often for retirement or restructuring. MVL allows tax-efficient capital distribution. Our experts assess your financial position and recommend the correct procedure.
Do I need to be based in Cambridgeshire to use your services?
No, we serve clients throughout the UK, but we have strong local knowledge of Cambs, including Peterborough and Cambridge. Many of our clients are based in the region, and we offer face-to-face meetings at your premises or our offices. We also provide remote consultations for convenience.
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