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 are the main types of company liquidation in Christchurch Dorset?
The two main types are Creditors Voluntary Liquidation (CVL), which is initiated by directors when a company is insolvent, and Compulsory Liquidation, which is a court-ordered winding up usually petitioned by a creditor. A third option is Members Voluntary Liquidation (MVL), for solvent companies wishing to close.
How much does it cost to liquidate a company in Christchurch?
The cost varies depending on the complexity of the company's affairs, asset values, and the number of creditors. For a straightforward Creditors Voluntary Liquidation, fees typically range from £3,000 to £6,000 plus VAT and disbursements. We always provide a fixed fee quote before you commit.
What is the role of a liquidator in Christchurch?
A licensed liquidator takes control of the company, protects and realises its assets, investigates the directors' conduct, agrees claims from creditors, and distributes any available funds to those creditors in the statutory order. They also report to Companies House and HMRC.
Can I liquidate a company with no assets or money?
Yes, you can. If a company has no assets and cannot pay for a liquidator, directors may be able to apply to the court for a compulsory winding-up order, or we can assist with a CVL where fees are paid from director contributions or pre-liquidation assets. We will assess your situation and advise the most cost-effective route.
What happens to directors' personal guarantees during liquidation?
Personal guarantees remain enforceable against the director even after liquidation. The liquidator or the creditor can pursue the guarantor for the outstanding debt. We advise directors on negotiating with creditors or considering personal insolvency solutions like an IVA if guarantees are unmanageable.
How long does the liquidation process take in Dorset?
A Creditors Voluntary Liquidation usually completes within 6 to 12 months, but the liquidator's final report and dissolution of the company can take up to 12 months after the initial meeting. Compulsory liquidations may take longer depending on court schedules and asset realisation.
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