ACCOTAX - Accountants & Tax Consultants
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HUBBLE ACCOUNTANCY LTD
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TKI Bookkeeping & Accounts
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Kings Oak Accountancy
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KINGS OAK ACCOUNTANCY (SOMERSET) LTD
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Bell Stanley Accountants
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R Albert Accountancy Ltd
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SG CONTRACTOR ACCOUNTING LIMITED
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ADD- WORTH ACCOUNTANCY LTD
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DEAD SIMPLE ACCOUNTING LTD
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Capital Accountancy - Accountants & Tax Advisors
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Turner Barratt
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MRC Accounting Services
Providing accounting services and solutions
Frequently asked questions
What is the role of a company liquidator in Clevedon?
A company liquidator in Clevedon is a licensed insolvency practitioner who manages the winding-up of a company's affairs. Their role includes realising assets, settling creditor claims, investigating director conduct, and distributing any remaining funds to shareholders. They ensure the process complies with legal requirements and provide a fair outcome for all parties involved.
When should I consider appointing a liquidator for my Clevedon business?
You should consider appointing a liquidator when your company is insolvent—meaning it cannot pay its debts as they fall due—and there is no realistic prospect of recovery. Signs include creditor pressure, statutory demands, winding-up petitions, or persistent cash flow problems. Early advice from a liquidator can help you explore alternatives and avoid personal liability.
What is the difference between Creditors' Voluntary Liquidation (CVL) and compulsory liquidation?
Creditors' Voluntary Liquidation (CVL) is initiated by directors and shareholders when they decide to close an insolvent company. Compulsory liquidation is forced by creditors through a court order, often after a winding-up petition. CVL gives directors more control and is generally less costly and stressful than compulsory liquidation.
Can I continue trading after appointing a liquidator in Clevedon?
Once a liquidator is appointed, they take control of the company, and directors cease to have authority to trade. The liquidator may continue trading for a short period to sell assets or complete contracts, but this is done under their supervision. Any trading before appointment must be lawful and not worsen the position of creditors.
What are the costs of hiring a company liquidator in Clevedon?
The costs vary depending on the complexity of the liquidation, asset realisation, and creditor claims. Typically, fees are based on time spent or a fixed fee agreed upfront. In a CVL, the liquidator's fees are paid from company assets, but if assets are insufficient, directors may need to fund the process. Always request a clear quote before proceeding.
Will I be personally liable for company debts after liquidation?
Generally, no. Limited liability protects directors from personal responsibility for company debts. However, personal liability can arise if you have given personal guarantees, engaged in wrongful trading, or acted fraudulently. A liquidator will investigate your conduct, and if any issues are found, you could face legal claims or director disqualification.
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