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SG CONTRACTOR ACCOUNTING LIMITED
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DEAD SIMPLE ACCOUNTING LTD
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QUENTELA ACCOUNTING LIMITED
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Turner Barratt
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TITUS ACCOUNTS LTD
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BARNES MAYER LIMITED
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DIrect Assist accountants Ltd
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The Bean Counters Accountants LLP
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Hayes Accountants
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Purnells - Licensed Insolvency Practitioners
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EXPEDIENT ACCOUNTANCY
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APRC Accountants
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Frequently asked questions
What is the role of a company liquidator in Fareham?
A company liquidator in Fareham is a licensed insolvency practitioner who manages the winding-up of a company's affairs. Their role includes realising assets, settling creditor claims, investigating the company's financial history, and ensuring that the liquidation process complies with UK insolvency law. They act in the best interests of creditors while providing support to directors throughout the process.
How much does company liquidation cost in Fareham?
The cost of company liquidation in Fareham varies depending on the complexity of the case, the size of the company, and the number of creditors. Typically, fees range from £3,000 to £7,000 for a straightforward Creditors Voluntary Liquidation. We provide a detailed, fixed-fee quote after an initial free consultation, so you know exactly what to expect with no hidden costs.
What is the difference between solvent and insolvent liquidation?
Solvent liquidation, often called Members' Voluntary Liquidation (MVL), is used when a company can pay its debts in full within 12 months. Insolvent liquidation, usually Creditors' Voluntary Liquidation (CVL), is for companies that cannot pay their debts. The processes differ in documentation, creditor involvement, and the liquidator's duties. Our team can advise which route is appropriate for your situation.
Can I liquidate my company if it has no assets in Fareham?
Yes, you can liquidate an insolvent company with no assets, but funding the liquidation is a challenge. In some cases, creditors may fund the process, or directors may need to contribute. If the company has no assets and no funds for liquidation, an alternative like a compulsory strike-off might be considered, but this does not provide the same protection from director liability. We can assess your options during a free consultation.
How long does a company liquidation take in Fareham?
A Creditors' Voluntary Liquidation typically takes between 6 to 12 months to complete, depending on the complexity of asset realisation and creditor claims. Solvent liquidations may be faster, often concluding in 3 to 6 months. The process includes a statutory meeting, asset disposal, and final distribution, with the company being dissolved at the end.
What are the risks of not liquidating an insolvent company properly?
If you continue trading while insolvent, you risk personal liability for wrongful trading, director disqualification, and potential fines. Creditors may also petition for compulsory liquidation, which removes your control over the process. Proper liquidation through a licensed practitioner provides a legal shield and ensures you meet all statutory obligations, protecting your reputation and future business prospects.
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