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Ashden Accountants
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Bird & Co
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John Lavender accounting ltd
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TAA CONSULTANTS LTD
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LeeP Accountants Registered in England & Wales
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KUBED SOLUTIONS LIMITED
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SJD ACCOUNTANCY LIMITED
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BLUEBIRD ACCOUNTANCY LIMITED
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J C Accounting Ltd
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Matrix Accountancy Services
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Matrix Accountancy Services Limited
Will Farmer FMAAT, AAT Licensed Accountant and Director of Matrix Accountancy Services Limited Hi I'm Will, In 2012 I...

Msi Accountancy Services
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Frequently asked questions
What is the difference between Creditors Voluntary Liquidation (CVL) and Members Voluntary Liquidation (MVL)?
A CVL is used when a company is insolvent and cannot pay its debts, initiated by directors to wind up the business. An MVL is for solvent companies where directors wish to close voluntarily, often for retirement or restructuring. In a CVL, creditors control the process, while in an MVL, shareholders appoint liquidators to distribute assets.
How much does company liquidation cost in Colmworth?
Costs vary based on company complexity, asset value, and creditor numbers. For a straightforward CVL, fees typically range from £3,000 to £6,000 plus VAT, with some firms offering fixed fees. MVL costs are often lower. Always request a written quote with no hidden charges before proceeding.
Can I continue trading while my company is in liquidation?
No, once liquidation begins, directors lose control and the liquidator takes over. However, you can trade normally before the liquidation application is filed, but you must not incur new debts if you know the company is insolvent, as this could lead to wrongful trading claims.
What happens to employees when a company enters liquidation?
Employees are made redundant immediately upon liquidation. The liquidator will assist with claiming statutory redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. Employees may also have preferential creditor status for certain unpaid contributions.
Will I be personally liable for company debts after liquidation?
In most cases, no, as limited liability protects directors. However, personal liability can arise if you provided personal guarantees, engaged in fraudulent or wrongful trading, or misused company funds. Our liquidators will assess your conduct and advise on any potential risks.
How long does a company liquidation take in Colmworth?
A CVL typically takes 6 to 12 months to complete, depending on asset realisation and creditor claims. An MVL can be faster, often 3 to 6 months. Complex cases with legal disputes or uncollected debts may extend longer, but your liquidator will provide a timeline estimate.
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