ACCOTAX - Accountants & Tax Consultants
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Turner Barratt
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DEAD SIMPLE ACCOUNTING LTD
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BARNES MAYER LIMITED
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DOLAN ACCOUNTANCY LIMITED
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SJD ACCOUNTANCY LIMITED
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Numerii Ltd
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MINT FORMATIONS LTD
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EXPEDIENT ACCOUNTANCY
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TAA CONSULTANTS LTD
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ADD- WORTH ACCOUNTANCY LTD
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Frequently asked questions
What is the difference between CVL and MVL in Chalgrove?
A Creditors Voluntary Liquidation (CVL) is used for insolvent companies where debts cannot be paid, while a Members Voluntary Liquidation (MVL) is for solvent companies closing voluntarily. In a CVL, creditors control the process, whereas in an MVL, shareholders appoint the liquidator to distribute assets tax-efficiently.
How much does a company liquidation cost in Chalgrove?
Costs vary based on complexity, but typical CVL fees range from £3,000 to £6,000 plus VAT, with disbursements. MVL fees are often fixed from £2,500. We provide transparent quotes after a free consultation and can discuss payment options, including director-funded fees where necessary.
Can I continue trading while my company is being liquidated?
No, once a liquidation order is made or a resolution is passed, trading must cease immediately. However, our liquidators can assist with essential wind-down activities, such as selling stock or completing contractual obligations, to maximise returns for creditors.
What happens to company directors during liquidation in Chalgrove?
Directors are not automatically personally liable, but they must cooperate with the liquidator. We help you prepare a statement of affairs and investigate any potential wrongful trading. If no misconduct exists, you can usually be discharged from your duties without personal consequences.
How long does a compulsory liquidation take in Chalgrove?
Compulsory liquidation via a court winding-up order typically takes 3-6 months from petition to order, but the process can extend if contested. Once ordered, the Official Receiver or an appointed liquidator handles asset realisation and creditor claims, which may take several months to complete.
Can I claim redundancy if my company goes into liquidation?
Yes, if you are an employee and the company becomes insolvent, you can claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund. Our liquidators provide the necessary forms and guidance to ensure you receive all entitlements.
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