ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
.png)
MARLIS BOOKKEEPING & ACCOUNTANCY
The team comprises of Marion and Lisa, a mother and daughter combination, who offe...
Williamslester Brilliant Accounting Services
Our range of services are provided by fully qualified and experienced staff who always monitor, advise and review both new and existing clients. This ...See More
TKI Bookkeeping & Accounts
Hello and welcome to my site, I am qualified by the The Institute of Certified Bookkeepers and have attained highest level qualification, Level 4 Dipl...See More
HUBBLE ACCOUNTANCY LTD
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
.jpg)
Woody's Payroll & Bookkeeping Services
Here at Woody's we have years of experience in providing a dedicated, professional and highly personal service to our clients. We offer a wide range o...See More
Kings Oak Accountancy
Accountants based in Bristol, Bath & Somerset providing accounting and tax services to small and medium size owner-managed businesses. Our services in...See More
KINGS OAK ACCOUNTANCY (SOMERSET) LTD
We are a small firm of Accountants based in Somerset. Michael is a fellow of the Chartered Institute of Management Accounting with over 30 years expe...See More
Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
.jpg)
R Albert Accountancy Ltd
We are an AAT Licensed accountancy practice providing a professional and friendly service. A new accountancy practice offering fantastic one to one s...See More
Purnells - Licensed Insolvency Practitioners
As insolvency practitioners we also specialise in interpreting the legislation set out in The Insolvency Act 1986, The Insolvency (England and Wale...
J. Jervis Accounting Services LTD
THE FINANCIAL MANAGEMENT CENTRE UK LTD
Online firm
MRC Accounting Services
Providing accounting services and solutions
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
Established in 1978, Naseems Accountants is a small but growing business with our clients doubled over the last decade. We honor ourselves in ou...See More
.jpeg)
Raven Solution
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
Capital Accountancy - Accountants & Tax Advisors
WE at CAPITAL ACCOUNTANCY specialises in helping small-to-medium sized businesses, sole traders, contractors and landlords. We make sure you pay the r...See More
Frequently asked questions
What is the difference between creditors voluntary liquidation (CVL) and compulsory liquidation in Gorseinon?
Creditors voluntary liquidation (CVL) is initiated by the company's directors and shareholders when they determine the company is insolvent and cannot pay its debts. It is a voluntary process that involves appointing a licensed insolvency practitioner to wind up the company's affairs. Compulsory liquidation, on the other hand, is a court-ordered process, typically initiated by a creditor (such as HMRC) who petitions the court to wind up the company. In a CVL, directors retain more control over the timing and choice of liquidator, whereas in compulsory liquidation, the court appoints an Official Receiver or an insolvency practitioner.
Can I continue to trade my company in Gorseinon if it is insolvent?
Trading while insolvent is extremely risky. Directors have a legal duty to act in the best interests of creditors once they know the company cannot avoid insolvent liquidation. Continuing to trade can lead to personal liability for wrongful trading, where directors may be personally responsible for debts incurred after the point they should have ceased trading. It is essential to seek professional advice immediately. Our licensed liquidators can help you assess whether there is a viable rescue option or whether you should cease trading and place the company into liquidation to protect yourself and creditors.
What are the typical costs of company liquidation in Gorseinon?
Liquidation costs vary depending on the complexity of the company's affairs, the number of assets, and the level of creditor involvement. For a straightforward creditors voluntary liquidation (CVL), fees can range from £4,000 to £8,000 plus VAT, but this is often paid from company assets. In some cases, if there are no assets, directors may need to fund the process personally. We always provide a clear, fixed-fee quotation before any work begins, and we explain all potential costs upfront. Our goal is to offer transparent pricing with no hidden charges, ensuring you understand the financial implications from the start.
What happens to company assets and employees during liquidation in Gorseinon?
Once a liquidator is appointed, they take control of all company assets. These assets are then realised (sold) to generate funds for creditors. Secured creditors, such as banks with a charge, are paid first, followed by preferential creditors (like employee wages up to certain limits) and then unsecured creditors. Employees are usually made redundant, and they may be entitled to claim statutory redundancy payments from the National Insurance Fund if the company cannot pay. The liquidator will handle the necessary notifications and provide guidance to employees on making claims. Directors are not automatically entitled to redundancy pay unless they were employed under a formal contract.
Will I be personally liable for company debts after liquidation in Gorseinon?
In most cases, directors of a limited company are not personally liable for company debts, as the company is a separate legal entity. However, personal liability can arise if you have given personal guarantees for business loans or credit, or if you have engaged in wrongful trading, fraudulent trading, or misfeasance (misuse of company funds). The liquidator has a duty to investigate director conduct and can pursue recovery of funds if wrongdoing is found. By acting early and seeking professional advice, you can minimise these risks. We provide guidance on how to avoid personal liability and ensure you comply with your legal duties.
How long does the liquidation process take for a company in Gorseinon?
The duration of a liquidation depends on the complexity of the case. A simple creditors voluntary liquidation (CVL) can be concluded in as little as 6 to 12 months, but if there are complex asset realisations, legal disputes, or investigations, it may take several years. The liquidator's role includes collecting assets, agreeing creditor claims, and distributing funds, which can take time. We provide regular updates throughout the process and aim to complete matters as efficiently as possible. After the liquidation is complete, the company is formally dissolved and removed from the Companies House register.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.