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 first steps to liquidate a company in County Antrim?
The first step is to contact a licensed insolvency practitioner for a confidential consultation. We will review your company's financial position, including debts, assets, and cash flow. If liquidation is the right option, we will advise on whether a Creditors Voluntary Liquidation (CVL) or Members Voluntary Liquidation (MVL) is appropriate. For insolvent companies, a CVL requires shareholder approval and a meeting of creditors. We handle all statutory paperwork, including the statement of affairs, and guide you through the process from start to finish.
What is the difference between CVL and MVL liquidation in Northern Ireland?
A Creditors Voluntary Liquidation (CVL) is used when a company is insolvent, meaning it cannot pay its debts. The liquidator sells assets to repay creditors and investigates director conduct. A Members Voluntary Liquidation (MVL) is for solvent companies where directors can confirm solvency with a statutory declaration. In an MVL, shareholders appoint a liquidator to distribute surplus assets and formally close the company, often for tax efficiency. Our team can explain which route suits your situation.
How much do company liquidators cost in County Antrim?
Costs vary depending on the complexity of the liquidation, asset values, and creditor numbers. For a straightforward CVL, we offer fixed fees starting around £4,000 plus VAT, which covers all statutory duties, filings, and communication with creditors. MVLs may be less expensive, often from £2,500. We provide a detailed quote after an initial review. There are no hidden charges, and our fees are paid from company assets, not out of your pocket.
Can I continue trading while a liquidator is appointed?
Once a liquidator is appointed, they take control of the company and its assets. Directors' powers cease, except where the liquidator requests assistance. Trading cannot continue in the company's name after liquidation begins. However, before that, you may continue trading under the guidance of an insolvency practitioner to preserve value, but you must avoid wrongful trading. We advise stopping any new credit commitments and discussing all actions with us first.
What happens to employees during a company liquidation in Antrim?
Employees are made redundant when a company enters liquidation. The liquidator will issue termination notices and provide claims forms for unpaid wages, holiday pay, and redundancy payments. In Northern Ireland, employees can claim certain statutory entitlements from the National Insurance Fund, which the liquidator helps process. We ensure all employee rights are respected and communicate clearly with staff throughout the process to minimize distress.
Are directors personally liable for company debts after liquidation?
Generally, no, if you have acted honestly and not engaged in wrongful trading or fraudulent activity. Liquidation provides a legal shield against personal liability for company debts. However, if you have given personal guarantees, taken loans, or continued trading while insolvent, you may be liable. Our role includes investigating director conduct, but if you have fulfilled your duties, you can move forward without personal debt. We offer pre-liquidation advice to help you avoid pitfalls.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.