
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 Epsom Surrey?
A Creditors Voluntary Liquidation (CVL) is used when a company is insolvent, meaning it cannot pay its debts as they fall due. An MVL (Members Voluntary Liquidation) is for solvent companies where directors wish to close voluntarily, often for retirement or restructuring. In a CVL, creditors are involved in the process, while in an MVL, shareholders declare solvency and the process is typically quicker and more straightforward.
How much does company liquidation cost in Epsom Surrey?
The cost of liquidation in Epsom Surrey varies based on the complexity of the company's affairs, the number of creditors, and the value of assets. Typically, a CVL for a small business starts from around £4,000 plus VAT, while an MVL may be slightly less. We provide fixed-fee quotes after a free initial consultation, ensuring no hidden costs and full transparency.
Can I continue trading if my company is insolvent in Epsom?
Once a company is insolvent, directors must not continue trading if it increases creditor losses, as this could lead to wrongful trading claims. However, trading may continue if it is in the best interests of creditors, for example to complete existing orders or sell assets. Our liquidators in Epsom Surrey can advise on the legality of continuing operations during the pre-liquidation period.
What happens to employees when a company goes into liquidation in Epsom?
When a company enters liquidation, employees are automatically dismissed from the date the liquidation order is made. The liquidator then handles redundancy pay, notice pay, and unpaid wages through the National Insurance Fund (RPS) as preferential claims. We guide employees through the process and ensure they receive all statutory entitlements they are owed.
How long does a company liquidation take in Epsom Surrey?
A Creditors Voluntary Liquidation typically takes between 6 to 12 months to conclude, depending on the complexity of asset realisation and creditor claims. An MVL can be completed in as little as 3 to 4 months. The liquidator must file final accounts with Companies House and HMRC, and the process cannot be rushed beyond statutory timelines.
Are directors personally liable for company debts in Epsom?
Directors are generally not personally liable for company debts if they have acted in good faith and within the law. However, personal liability can arise if there is evidence of wrongful trading, fraudulent trading, or if personal guarantees were signed. Our liquidation experts in Epsom Surrey will assess your situation and advise on any potential risks before proceeding.
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