
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

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

APRC Accountants
We are a forward thinking firm of Chartered, Certified Public Accountants & Tax Advisers and Chartered Payroll Professionals established in 2005 in th...See More
Frequently asked questions
What is the difference between a CVL and an MVL for company liquidators in Greater London?
A Creditors' Voluntary Liquidation (CVL) is used when a company is insolvent and cannot pay its debts. An MVL (Members' Voluntary Liquidation) is only for solvent companies where directors can declare solvency. In a CVL, creditors control the process and a liquidator realises assets to repay them. In an MVL, shareholders appoint a liquidator to distribute surplus assets, often with tax advantages. Our liquidators assess your financial position to recommend the correct procedure.
How much do company liquidators charge in Greater London?
Fees vary based on company complexity, asset value, and creditor numbers. For a straightforward CVL, costs typically range from £4,000 to £8,000 plus VAT, often paid from company assets. MVL fees are similar but may be lower if no asset realisation is needed. We provide fixed-fee quotes before engagement, with no hidden charges. Always confirm whether the liquidator's fee is based on time or a fixed amount to avoid surprises.
Can a director face personal liability when a company goes into liquidation?
Directors can face personal liability for wrongful trading, fraudulent trading, or if they have given personal guarantees. However, using a licensed liquidator early and cooperating fully reduces risk. The liquidator reviews transactions for preferences or undervalue transfers. If you have acted in good faith and followed advice, personal liability is rare. Our team helps you prepare documentation to demonstrate proper conduct.
How long does a company liquidation take in Greater London?
A CVL typically takes 6 to 12 months to conclude, depending on asset sales and creditor claims. An MVL can be faster, often 3 to 6 months, if no complex issues arise. The liquidator must file final accounts with Companies House and hold a final meeting. Delays occur if there are disputes, missing records, or difficult assets. We provide a timeline estimate after an initial review.
What happens to employees when a company goes into liquidation?
Employees are automatically dismissed when a liquidation order is made. They become preferential creditors for unpaid wages (up to £800), holiday pay, and pension contributions. The liquidator will notify the Redundancy Payments Service so employees can claim statutory entitlements. Our liquidators guide employees on claiming from the National Insurance Fund and assist with any redundancy questions.
Can I continue trading after my company is in liquidation?
No, once a company enters liquidation, the liquidator takes control. Directors cannot trade or deal with assets without the liquidator's consent. However, the liquidator may continue trading temporarily to complete contracts or sell stock for a better return. If you wish to start a new business, you must avoid using the same company name or a similar one unless you follow the 'phoenix' rules under the Insolvency Act.
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