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This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
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Frequently asked questions
What are the main types of company liquidation available in Crieff?
The main types are creditors voluntary liquidation (CVL) for insolvent companies, members voluntary liquidation (MVL) for solvent companies, and compulsory liquidation which is court-ordered. Our licensed liquidators in Crieff will assess your financial position and recommend the most appropriate route, explaining the legal implications and costs involved for each option.
How much does a company liquidation cost in Crieff?
Costs vary depending on the complexity of the case, the size of the company, and the type of liquidation. For a straightforward CVL, fees typically start around £4,000 plus VAT, but we always provide a fixed fee quote after an initial review. MVL fees are often lower for simple solvent wind-ups. We offer transparent pricing with no hidden charges.
Can I continue trading while my company is being liquidated?
Once a decision to liquidate is made, directors must cease trading immediately except for actions necessary to preserve asset value or complete statutory duties. Our liquidators will advise on permissible activities during the wind-down period. Continuing to trade beyond this point can lead to personal liability for wrongful trading.
What happens to employees during a company liquidation in Crieff?
Employees are made redundant when the company enters liquidation. The liquidator will handle statutory redundancy payments, unpaid wages, holiday pay, and pension contributions. Claims for these amounts can be made to the National Insurance Fund. We guide employers through the employee notification process and ensure all legal obligations are met.
What are the director's responsibilities during liquidation?
Directors must cooperate fully with the liquidator, providing all company records, financial information, and explanations of transactions. They must not dispose of assets or conceal debts. Failure to comply can result in personal liability, disqualification, or even criminal prosecution. Our team helps directors understand and fulfil these duties correctly.
Can I liquidate a company with outstanding director loans?
Yes, but director loan accounts are treated as assets of the company. The liquidator will seek repayment from the director personally. If the loan cannot be repaid, it may be written off as a distribution in an MVL, but this incurs a capital gains tax charge. In a CVL, the liquidator will pursue recovery for creditors. We advise on the best approach for your specific situation.
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