ACCOTAX - Accountants & Tax Consultants
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TITUS ACCOUNTS LTD
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QUENTELA ACCOUNTING LIMITED
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Marden & Co Accountants Ltd
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DIrect Assist accountants Ltd
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BARNES MAYER LIMITED
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EXPEDIENT ACCOUNTANCY
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DEAD SIMPLE ACCOUNTING LTD
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OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
Cruse + Burke
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Frequently asked questions
What is the role of a company liquidator in Godalming?
A company liquidator in Godalming is a licensed insolvency practitioner who manages the closure of a company. Their duties include valuing and selling company assets, settling debts with creditors, investigating the company's affairs, and ensuring legal compliance. They act in the best interests of creditors and shareholders, and they also handle all necessary paperwork with Companies House and HMRC.
How much does liquidation cost for a company in Godalming?
The cost of liquidation varies based on the complexity and size of the company. For a creditors' voluntary liquidation (CVL), fees often range from £3,000 to £7,000 plus VAT, but we offer fixed-fee packages for straightforward cases. Members' voluntary liquidations (MVL) may have lower costs. We always provide a transparent quote before any work begins, with no hidden charges.
Can I keep trading if my company is insolvent in Godalming?
If your company is insolvent, continuing to trade can lead to personal liability for wrongful trading. Directors have a legal duty to act in the best interests of creditors once insolvency is known. Our liquidators in Godalming advise you to stop trading immediately if there is no reasonable prospect of recovery. We can help you assess options like administration or a company voluntary arrangement (CVA) to avoid liquidation if possible.
What is the difference between a CVL and an MVL?
A Creditors' Voluntary Liquidation (CVL) is used when a company is insolvent and cannot pay its debts. It is initiated by directors but controlled by creditors. A Members' Voluntary Liquidation (MVL) is for solvent companies where directors can pay all debts in full within 12 months. In an MVL, shareholders appoint a liquidator to distribute assets, often for tax efficiency. Our Godalming team can guide you through both processes.
Will I be personally liable for company debts after liquidation?
In most cases, directors are not personally liable for company debts if they have acted properly and not given personal guarantees. However, if there is evidence of fraudulent trading, wrongful trading, or misuse of funds, you may be held liable. Our liquidators in Godalming will investigate your conduct and provide advice to minimise any personal risk, but we always recommend seeking legal advice if you have concerns.
How long does the liquidation process take in Godalming?
The duration depends on the type of liquidation. A CVL typically takes 6 to 12 months to complete, while an MVL can be concluded in 3 to 6 months. Complex cases with many assets or disputes may take longer. Our liquidators in Godalming work efficiently to expedite the process while ensuring all legal requirements are met. We provide regular updates throughout.
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