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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
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QUENTELA ACCOUNTING LIMITED
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The Bean Counters Accountants LLP
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BARNES MAYER LIMITED
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DIrect Assist accountants Ltd
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MARLIS BOOKKEEPING & ACCOUNTANCY
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Frequently asked questions
What is a company liquidator and when do I need one in Devizes?
A company liquidator is a licensed insolvency practitioner who manages the formal closure of a limited company that cannot pay its debts. You need one in Devizes when your company is insolvent, meaning liabilities exceed assets, and you cannot continue trading. The liquidator sells assets, distributes funds to creditors, and winds up the company legally. If you are a director, you should seek advice as soon as cash flow problems arise to avoid wrongful trading claims.
How much do company liquidators charge in Devizes?
Fees vary depending on the complexity of the liquidation, asset value, and creditor number. In Devizes, typical costs for a creditors voluntary liquidation (CVL) range from £3,000 to £7,000 plus VAT, often paid from company assets. Some liquidators offer fixed fees or payment plans. Always request a written quote before engaging a firm. Our team provides transparent pricing with no hidden extras, and we can discuss flexible options during your free consultation.
Can I continue trading while my company is being liquidated in Devizes?
Once a liquidator is appointed, trading must cease immediately, except for actions necessary to preserve asset value or complete work in progress with the liquidator's permission. Continuing to trade after insolvency without consent can lead to personal liability for debts incurred. The liquidator will assess any ongoing contracts and decide whether to fulfil them. Directors should stop taking new orders or spending company funds as soon as they decide to liquidate.
What is the difference between voluntary and compulsory liquidation in Devizes?
Voluntary liquidation is initiated by the company's directors or shareholders through a creditors voluntary liquidation (CVL) when the company is insolvent. Compulsory liquidation is a court order obtained by a creditor, usually for debts over £750, which forces the company to close. In a CVL, directors retain control of the process and choose the liquidator. Compulsory liquidation is more costly and less controlled, so directors often prefer a CVL to avoid court action.
Will I be personally liable for company debts after liquidation in Devizes?
Generally, no. Limited liability protects directors from personal responsibility for company debts, provided they have not acted fraudulently or traded wrongfully. However, if you have given personal guarantees for loans or leases, you will remain liable for those amounts. The liquidator will investigate your conduct; if they find evidence of misfeasance, they may pursue compensation. Taking professional advice early helps you avoid personal exposure.
How long does a company liquidation take in Devizes?
A typical creditors voluntary liquidation in Devizes takes between 6 and 12 months to complete, depending on asset realisation and creditor claims. The initial process, including shareholder meetings and appointment, can be done within 2 to 4 weeks. Complex cases with multiple assets or legal disputes may take longer. After the final meeting, the company is dissolved and removed from the Companies House register, which usually occurs within 3 months of completion.
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