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
Purnells - Licensed Insolvency Practitioners
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Financial Claims Consultants
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Kings Oak Accountancy
Accountants based in Bristol, Bath & Somerset providing accounting and tax services to small and medium size owner-managed businesses. Our services in...See More
KINGS OAK ACCOUNTANCY (SOMERSET) LTD
We are a small firm of Accountants based in Somerset. Michael is a fellow of the Chartered Institute of Management Accounting with over 30 years expe...See More
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SG CONTRACTOR ACCOUNTING LIMITED
SG Accounting was established in 1995 to service the accountancy and taxation needs of professional contractors and freelancers. We are based in Winc...See More
HUBBLE ACCOUNTANCY LTD
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
TKI Bookkeeping & Accounts
Hello and welcome to my site, I am qualified by the The Institute of Certified Bookkeepers and have attained highest level qualification, Level 4 Dipl...See More
Williamslester Brilliant Accounting Services
Our range of services are provided by fully qualified and experienced staff who always monitor, advise and review both new and existing clients. This ...See More
Woody's Payroll & Bookkeeping Services
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DEAD SIMPLE ACCOUNTING LTD
Dead Simple Accounting is an expert accounting firm based in Reading, Berkshire. We’ve been supporting the local business community in Reading with a ...See More
Modus Accountants Limited
Whether you are looking for advice, inspiration, accountancy services or all three, our integrated services will provide as much or as little su...See More
Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More
Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...See More
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MARLIS BOOKKEEPING & ACCOUNTANCY
The team comprises of Marion and Lisa, a mother and daughter combination, who offe...
QUENTELA ACCOUNTING LIMITED
Quentela Accounting is a family run accountancy practise based in Wokingham, Berkshire. We are a small business but with an emphasis on BIG commitment...See More
The Bean Counters Accountants LLP
Established in 2011, The Bean Counters Accountants is a growing accounting firm in Maidenhead which specializes in cloud accounting and bookkeeping, p...See More
BARNES MAYER LIMITED
Barnes Mayer Ltd is an independent, family run business providing accounting and taxation services throughout Maidenhead, Berkshire and Buckinghamshir...See More
Frequently asked questions
What is the difference between a creditors' voluntary liquidation (CVL) and a members' voluntary liquidation (MVL)?
A CVL is used for insolvent companies where the directors believe the business cannot pay its debts. An insolvency practitioner is appointed to wind up the company, sell assets, and distribute funds to creditors. An MVL is for solvent companies where the directors can make a statutory declaration of solvency, meaning the company can pay its debts in full within 12 months. The MVL allows for tax-efficient distribution of surplus assets to shareholders.
How much does it cost to appoint a company liquidator in Compton Abbas?
The cost of liquidation varies depending on the complexity of the company's affairs, the number of creditors, and the value of assets. Typically, fees range from £3,000 to £10,000 or more for a CVL, often paid from company assets. For an MVL, fees are usually fixed or based on time, and can be offset against tax. We provide a free, no-obligation quote after assessing your company's specific circumstances.
Can I keep trading after I have decided to liquidate my company?
Once you have formally decided to liquidate, you should not incur new debts unless they are essential for the liquidation process (e.g., legal advice or preserving asset value). Continuing to trade and incurring credit while insolvent could lead to personal liability for wrongful trading. Our liquidators will advise you on the correct steps to stop trading safely and protect your position.
What happens to the company's employees during liquidation?
When a company enters liquidation, all employees are automatically dismissed. The liquidator is responsible for ensuring that employees receive their statutory redundancy pay, unpaid wages, holiday pay, and pension contributions. These claims are preferential and are typically paid from company assets or the National Insurance Fund if assets are insufficient. We guide employees through the claims process.
Will I be personally liable for the company's debts after liquidation?
In most cases, directors of a limited company are not personally liable for company debts, as the company is a separate legal entity. However, personal liability can arise if you have given personal guarantees, acted fraudulently, or traded while knowing the company was insolvent (wrongful trading). Our liquidation experts will review your conduct and help you avoid any personal exposure.
How long does the liquidation process take in Compton Abbas?
A creditors' voluntary liquidation typically takes 6 to 12 months to complete, depending on the complexity of asset realisation and creditor claims. A members' voluntary liquidation can be quicker, often 3 to 6 months. The final step is the dissolution of the company, which occurs after the liquidator files final accounts with Companies House, usually after a short notice period.
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