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
OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
Cruse+Burke
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Owadally & Kings Partnership
At O&K we aspire to be one of the most forward thinking accountancy firms in Croydon. Our dedicated in-house team, and external specialists, based in ...See More
Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...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
Marden & Co Accountants Ltd
We are a two partner accountancy practice based in Epsom, serving Sutton, Banstead, Reigate, Dorking & across Surrey. We provide professional accounta...See More
Taxaccolega Chartered Accountants & Tax Advisers
As one of the brightest firms of chartered accountants in London, UK, Taxaccolega, based in Croydon, combines the passion and creative thinking of a s...See More
Tax Cruncher
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Central London Accountants
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Cheap - Accountants
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London Accountants
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Abu Umar & Co.
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EFJ CONSULTING LTD
We are the firm of Chartered Certified Accountants based in London. We provide professional and practical help with all aspects of accountancy and tax...See More
Coman And Co Ltd
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Fitzgeralds Accountants Limited
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Frequently asked questions
What is the difference between a CVL and an MVL in Hartfield?
A Creditors' Voluntary Liquidation (CVL) is used when a company is insolvent and cannot pay its debts. An MVL is used when a company is solvent but the directors wish to close it, often for retirement or restructuring. In a CVL, creditors control the process, while in an MVL, shareholders appoint the liquidator.
How much does it cost to appoint a company liquidator in Hartfield?
The cost varies depending on the complexity of the company's affairs, the number of creditors, and the assets involved. For a CVL, fees are typically based on a percentage of realisations or a fixed fee, but we always provide a clear, upfront quote before you commit. An MVL usually has a fixed fee, which is often more predictable.
Can a company liquidator help if my company has no assets but owes money?
Yes, absolutely. If your company is insolvent with no assets, a CVL is still a viable option. The liquidator will investigate the company's affairs, deal with creditors, and formally close the company. In many cases, this provides a clean break for directors, subject to any misconduct being found.
What are the legal duties of a director during liquidation in Hartfield?
Directors must cooperate fully with the liquidator, provide all company records and financial information, and attend meetings if required. They must also avoid taking any action that could be seen as preferential treatment of certain creditors. Failure to comply can lead to personal liability or disqualification.
How long does the liquidation process take in Hartfield?
A straightforward MVL can be completed in as little as 6 to 9 months, subject to tax clearance from HMRC. A CVL typically takes longer, often 12 to 18 months, because the liquidator must realise assets, investigate transactions, and agree claims with creditors. The exact timeline depends on the complexity of the case.
Will I be personally liable for my company's debts after liquidation?
Generally, no. Limited liability protects directors from personal responsibility for company debts, provided they have acted within the law. However, if you have given personal guarantees, or if wrongful or fraudulent trading is proven, you could be held personally liable. Our experts can advise you on your specific exposure.
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