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Business Partners Accountants & Bookkeepers
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T.Y.E BOOKKEEPING LTD
For all your bookkeeping needs from self assessments, VAT returns, EC Sales List, general bookkeeping for sole traders or small businesses. I work on ...See More
HHR ACCOUNTANCY LTD
Accounting & Bookkeeping Solutions

MRC Accounting Services
Providing accounting services and solutions
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Raven Solution
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AMSTOR ACCOUNTANTS LIMITED
Amstor Accountants Limited T/A Premier Accountants, Auditors and Tax Advisers want to help you pay less tax and keep more of the profit your business ...See More

Naseems Accountants
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ACCOUNTS 2U LIMITED
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Norbury Bookkeeping Services
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Sambhav Management Limited
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Capital Accountancy - Accountants & Tax Advisors
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FLEXIE ACCOUNTANTS LTD
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Pharmatax
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R Albert Accountancy Ltd
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Mind Your Assets Accounts
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Athena Bookkeeping Services
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Frequently asked questions
What is the role of a company liquidator in Godstone?
A company liquidator in Godstone is a licensed insolvency practitioner who manages the formal closure of a company. Their role includes assessing the financial position, selling assets, settling creditor claims, investigating director conduct, and distributing any remaining funds to shareholders. They ensure the liquidation process follows UK insolvency law and provides a legally binding conclusion for the company.
How much does company liquidation cost in Godstone?
The cost of company liquidation in Godstone varies depending on the complexity of the case, the size of the company, and the type of liquidation required. For a Creditors Voluntary Liquidation (CVL), typical fees range from £3,000 to £7,000 plus VAT, but many firms offer fixed-fee packages. Members Voluntary Liquidation (MVL) for solvent companies is often less expensive. Always obtain a detailed written quote before proceeding.
What is the difference between CVL and MVL?
A Creditors Voluntary Liquidation (CVL) is used for insolvent companies that cannot pay their debts, where the directors initiate the process to avoid compulsory winding up. A Members Voluntary Liquidation (MVL) is for solvent companies where directors and shareholders decide to close the business, often for tax efficiency. In an MVL, a declaration of solvency is required, and all debts must be paid in full.
Can I keep trading after appointing a liquidator in Godstone?
Once a liquidator is appointed, they take control of the company and its assets. The directors' powers cease, and the company stops normal trading activities. The liquidator may continue limited operations solely to preserve asset value or complete contracts, but you cannot trade in the usual sense. Any trading after liquidation begins could lead to personal liability for the directors.
What happens to employees during company liquidation in Godstone?
During liquidation, employees are automatically made redundant once the company becomes insolvent and a liquidator is appointed. The liquidator is responsible for notifying employees and handling redundancy claims. Employees may be able to claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund (via the Redundancy Payments Service) if the company cannot pay these amounts.
Are directors personally liable for company debts in liquidation?
Generally, directors are not personally liable for company debts if the company is a limited liability entity and they have not acted wrongfully. However, personal liability can arise if directors have given personal guarantees, traded while insolvent (wrongful trading), or committed fraudulent activity. The liquidator may pursue directors for recovery of assets if they breached their fiduciary duties.
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