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
Frequently asked questions
What is the role of a company liquidator in Harrow Middlesex?
A company liquidator in Harrow Middlesex is a licensed insolvency practitioner who takes control of an insolvent company, realises its assets, settles creditor claims, and formally closes the company. They also investigate director conduct, ensure compliance with the Insolvency Act 1986, and distribute any remaining funds to shareholders after all debts are paid.
How much does company liquidation cost in Harrow?
The cost of company liquidation in Harrow varies based on company size, asset complexity, and creditor structure. Typically, a Creditors' Voluntary Liquidation (CVL) costs between £3,000 and £7,000 plus VAT, but our firm offers fixed-fee packages with no hidden charges. We provide a free quote after reviewing your company's accounts and liabilities.
Can I continue trading after appointing a liquidator?
No. Once a liquidator is appointed, they take full control of the company's affairs. Directors lose their powers to trade, sell assets, or make payments unless the liquidator explicitly authorises such actions. Continuing to trade without permission could lead to personal liability for wrongful trading.
What is the difference between CVL and compulsory liquidation in Harrow?
A Creditors' Voluntary Liquidation (CVL) is initiated by directors when the company is insolvent, and shareholders pass a resolution to wind up. Compulsory liquidation is a court-ordered process, usually started by a creditor who petitions for a winding-up order. CVL is generally faster, less adversarial, and gives directors more control over the process.
Will I be personally liable for company debts after liquidation?
In most cases, no. Limited liability protects directors from personal responsibility for company debts unless there is evidence of fraud, wrongful trading, or personal guarantees. Our liquidators will review your conduct to ensure you have acted in good faith, and we can advise on any potential risks before you proceed.
How long does a company liquidation take in Harrow Middlesex?
A straightforward Creditors' Voluntary Liquidation typically takes 6 to 12 months to complete, depending on asset realisation and creditor claims. Compulsory liquidation may take longer due to court proceedings. Our team works efficiently to dissolve your company as quickly as possible while ensuring all legal requirements are met.
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