
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 is the difference between a CVL and an MVL in East Mayfield?
A Creditors' Voluntary Liquidation (CVL) is used for insolvent companies where liabilities exceed assets. It is initiated by directors but controlled by creditors. A Members' Voluntary Liquidation (MVL) is for solvent companies, where directors swear a declaration of solvency, and the company is closed to distribute surplus assets to shareholders. Our liquidators in East Mayfield will guide you on the correct process based on your financial status.
How long does the liquidation process take in East Mayfield?
The typical timeline for a CVL is between 6 to 12 months, depending on the complexity of the company's affairs, such as the number of creditors and the ease of asset realisation. An MVL can be completed in as little as 3 to 6 months. Our team in East Mayfield works efficiently to expedite the process while ensuring full legal compliance.
Can directors be held personally liable for company debts in East Mayfield?
Directors can be held personally liable if they have acted wrongfully, such as trading while insolvent, or if they have breached their fiduciary duties. However, by appointing a licensed liquidator promptly and cooperating fully, you can mitigate this risk. Our experts in East Mayfield will review your conduct and advise on any potential exposure.
What happens to employees during a company liquidation in East Mayfield?
When a company enters liquidation, all employees are automatically dismissed from the date the liquidation order is made. The liquidator will handle employee claims for unpaid wages, holiday pay, and redundancy, which may be recoverable from the National Insurance Fund. We provide clear guidance to employees and directors throughout this difficult time.
How much does it cost to hire a liquidator in East Mayfield?
The cost varies based on the complexity of the liquidation and the size of the company. For a CVL, fees are often based on the value of assets realised and the work involved, typically ranging from £4,000 to £8,000 plus VAT. For an MVL, fees are often fixed or based on a time charge. We offer transparent pricing and a free consultation to provide an accurate quote.
Can I continue trading after filing for liquidation in East Mayfield?
No, once a liquidation order is made, the company ceases trading immediately, except in very limited circumstances where the liquidator may continue trading to complete contracts or preserve asset value. The liquidator takes control of the company's affairs, and directors lose their powers. You should seek advice before making any decisions about trading status.
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.
