ACCOTAX - Accountants & Tax Consultants
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TKI Bookkeeping & Accounts
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HUBBLE ACCOUNTANCY LTD
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Kings Oak Accountancy
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KINGS OAK ACCOUNTANCY (SOMERSET) LTD
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R Albert Accountancy Ltd
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AMSTOR ACCOUNTANTS LIMITED
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Raven Solution
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ADD- WORTH ACCOUNTANCY LTD
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Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
Frequently asked questions
What is the role of a company liquidator in Cwmbran?
A company liquidator in Cwmbran is a licensed insolvency practitioner appointed to wind up 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 the Insolvency Act 1986, providing a legal closure for the company.
How much does a company liquidation cost in Cwmbran?
The cost of liquidation in Cwmbran varies based on the complexity and size of the company. For a straightforward creditors' voluntary liquidation (CVL), fixed fees typically range from £3,000 to £6,000 plus VAT, but this can be higher for larger or more complex cases. We offer transparent, fixed-fee quotes after a free initial assessment, so you know the costs upfront with no hidden extras.
What is the difference between a CVL and an MVL?
A Creditors' Voluntary Liquidation (CVL) is used when a company is insolvent (cannot pay its debts), and it is initiated by directors to avoid compulsory winding-up. A Members' Voluntary Liquidation (MVL) is for a solvent company, often used by directors to extract retained profits as capital gains rather than income tax. The choice depends on your company's financial health and your goals.
Can a company trade after liquidation has started?
No, once a liquidation order is made or a CVL resolution is passed, the liquidator takes control, and the company must cease trading immediately. The liquidator's role is to wind down operations, sell assets, and settle liabilities. Continuing to trade after this point can lead to personal liability for directors for debts incurred during that period.
What happens to employees when a company goes into liquidation?
In a liquidation, employees are automatically dismissed from the date the liquidation order is made or the resolution is passed. The liquidator will assist employees in claiming unpaid wages, holiday pay, and redundancy pay from the National Insurance Fund (via the Redundancy Payments Service). They also provide the necessary forms and guidance to ensure claims are processed correctly.
How long does the liquidation process take in Cwmbran?
The duration of a liquidation varies. For a simple CVL, the process can be completed in 6 to 12 months, but it can take longer if there are complex asset realisations or legal disputes. The liquidator must file final accounts with Companies House and hold a final meeting, which typically occurs within 12 months, though extensions are possible with creditor approval.
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