ACCOTAX - Accountants & Tax Consultants
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MGM & CO. Chartered Certified Accountants
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Pepperhill Associates
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Accounting 4 Ltd
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Sabre Accountants
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Clarity Accountants
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Mind Your Assets Accounts
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LFR Accounting
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Harris Rosenberg Chartered Accountants
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Cheaper Accountant
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GORILLA ACCOUNTING LIMITED
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PAYLESS ACCOUNTING & OUTSOURCING LIMITED
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LLOYDS ACCOUNTANTS LTD
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Norbury Bookkeeping Services
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Sambhav Management Limited
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GE ACCOUNTANCY LTD
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C & B Accounting Solutions Ltd
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Frequently asked questions
What does a company liquidator in Farnham do?
A company liquidator in Farnham is a licensed insolvency practitioner who manages the formal closure of an insolvent company. Their duties include selling company assets, settling creditor claims, investigating director conduct, and distributing any remaining funds to shareholders. They also ensure compliance with the Insolvency Act 1986 and file necessary documents with Companies House.
How much does it cost to liquidate a company in Farnham?
The cost of liquidation in Farnham varies depending on the complexity of the company’s affairs, the number of assets, and the level of creditor engagement. Typically, fees range from £3,000 to £7,000 plus VAT for a straightforward CVL. Many liquidators offer a fixed fee or take a percentage of asset realisations. Always request a detailed quote before proceeding.
Can I liquidate a company with no assets or money in Farnham?
Yes, it is possible to liquidate a company with no assets, but you will need to fund the liquidator’s fees personally, as the company cannot cover them. Some liquidators in Farnham offer payment plans or accept a director’s loan to cover costs. In rare cases, a creditor may petition for compulsory liquidation, but this is less common.
What is the difference between a CVL and compulsory liquidation in Farnham?
A Creditors Voluntary Liquidation (CVL) is initiated by the company’s directors and shareholders when they decide the company is insolvent. Compulsory liquidation is a court-ordered process, usually triggered by a creditor’s winding-up petition. A CVL gives directors more control and is often less adversarial, while compulsory liquidation can lead to a more formal investigation.
How long does a company liquidation take in Farnham?
The typical timeframe for a CVL in Farnham is between 6 and 12 months, depending on the complexity of the case. Simple liquidations with few assets and creditors may be completed in as little as 4 months, while those with complex investigations or litigation can take longer. Your liquidator will provide a realistic timeline after an initial assessment.
What happens to directors' personal guarantees during liquidation?
If you have signed personal guarantees for company debts, such as bank loans or commercial leases, the creditor can pursue you personally after liquidation. The liquidator does not protect you from these claims. However, you may negotiate a settlement or propose an individual voluntary arrangement (IVA) to manage personal debt. Seek independent legal advice.
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