ACCOTAX - Accountants & Tax Consultants
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SAFEBOOKS4U BOOKKEEPING SERVICES
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HHR ACCOUNTANCY LTD
Accounting & Bookkeeping Solutions
T.Y.E BOOKKEEPING LTD
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Mind Your Assets Accounts
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FLEXIE ACCOUNTANTS LTD
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Zak Partnership
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Additions Accountancy
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Business Partners Accountants & Bookkeepers
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Accounting 4 Ltd
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Norbury Bookkeeping Services
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Sambhav Management Limited
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Pharmatax
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Clarity Accountants
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MGM & CO. Chartered Certified Accountants
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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.
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
Cheaper Accountant
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Frequently asked questions
What is the difference between a solvent and insolvent liquidation?
A solvent liquidation, known as a Members' Voluntary Liquidation (MVL), is used when a company is financially healthy but its directors or shareholders wish to close it down, often for retirement or restructuring. An insolvent liquidation, known as a Creditors' Voluntary Liquidation (CVL), is used when a company cannot pay its debts, and it aims to protect creditors and close the business in an orderly manner. Compulsory liquidation is a court-ordered process for insolvent companies.
How much does it cost to liquidate a company in Greenwich?
The cost of liquidation varies depending on the complexity of the company's affairs, the number of assets and creditors, and the type of liquidation required. For a simple Creditors' Voluntary Liquidation (CVL), fees typically start from around £4,000 plus VAT and disbursements, but we always provide a fixed-fee quote after a free initial assessment. Solvent liquidations (MVL) may have different fee structures, often based on asset realisation.
Can I continue to trade if my company is insolvent?
If your company is insolvent, continuing to trade can lead to personal liability for wrongful trading under the Insolvency Act 1986. Directors must act in the best interests of creditors. If you are unsure about your company's financial position, we strongly recommend seeking professional advice immediately. Our liquidators can help you assess viability and, if necessary, place the company into liquidation promptly to avoid further legal complications.
What happens to employees when a company goes into liquidation?
When a company enters liquidation, employees are automatically dismissed from the date the liquidation order is made. The liquidator will handle employee claims, including redundancy pay, unpaid wages, holiday pay, and notice pay, which may be recoverable from the National Insurance Fund. We will guide you through the process and ensure that all statutory obligations are met.
Will I be personally liable for company debts if I liquidate?
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, acted fraudulently, or engaged in wrongful trading. Our experts will review your situation and advise on any potential risks before proceeding with liquidation.
How long does the liquidation process take in Greenwich?
A Creditors' Voluntary Liquidation (CVL) typically takes between 6 to 12 months to complete, depending on the complexity of the case, asset realisation, and creditor claims. A solvent Members' Voluntary Liquidation (MVL) can often be completed in 3 to 6 months. Compulsory liquidation may take longer due to court procedures. We will provide a realistic timeline during your initial consultation.
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