ACCOTAX - Accountants & Tax Consultants
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HUBBLE ACCOUNTANCY LTD
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Kings Oak Accountancy
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Raven Solution
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MRC Accounting Services
Providing accounting services and solutions
Pharmatax
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Matrix Accountancy Services
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Matrix Accountancy Services Limited
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Frequently asked questions
What are the main types of company liquidation available in Gatwick?
The main types are Creditors Voluntary Liquidation (CVL) for insolvent companies, Members Voluntary Liquidation (MVL) for solvent companies, and Compulsory Liquidation which is court-ordered. Our Gatwick liquidators will recommend the most appropriate route based on your company's financial status and objectives.
How much does company liquidation cost in Gatwick?
The cost varies depending on the complexity of the liquidation, asset value, and the number of creditors. Typically, CVL fees range from £3,000 to £6,000 plus VAT, while MVL fees are often fixed between £2,500 and £4,000. We provide transparent, fixed-fee quotes after an initial free consultation.
How long does the liquidation process take in Gatwick?
A Creditors Voluntary Liquidation usually completes within 6 to 12 months, but the formal appointment can occur within 2-4 weeks of the decision. Members Voluntary Liquidation can be quicker, often concluding in 3-6 months if no complex asset issues arise. The timeline depends on creditor claims and asset realisation.
Can directors be held personally liable during liquidation?
Directors can be personally liable if wrongful trading, fraudulent trading, or breach of fiduciary duty is proven. However, if you act on professional advice and take steps to protect creditors' interests, liability is typically avoided. Our liquidators help you navigate these risks and document your decisions properly.
What happens to employees when a company goes into liquidation in Gatwick?
Employees are made redundant once the liquidator is appointed. They may claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund. The liquidator provides the necessary forms and guidance to ensure employees receive their entitlements promptly.
Can I close a solvent company without liquidation?
Yes, you can apply for voluntary strike-off via Companies House, but this is only suitable if the company has no assets, liabilities, or trading activity. If your solvent company has assets or cash to distribute, a Members Voluntary Liquidation (MVL) is more tax-efficient and legally robust.
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