ACCOTAX - Accountants & Tax Consultants
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Purnells - Licensed Insolvency Practitioners
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Financial Claims Consultants
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Kings Oak Accountancy
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KINGS OAK ACCOUNTANCY (SOMERSET) LTD
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SG CONTRACTOR ACCOUNTING LIMITED
SG Accounting was established in 1995 to service the accountancy and taxation needs of professional contractors and freelancers. We are based in Winc...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.
Woody's Payroll & Bookkeeping Services
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TKI Bookkeeping & Accounts
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Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
Williamslester Brilliant Accounting Services
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DEAD SIMPLE ACCOUNTING LTD
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MARLIS BOOKKEEPING & ACCOUNTANCY
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Modus Accountants Limited
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Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More
Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...See More
QUENTELA ACCOUNTING LIMITED
Quentela Accounting is a family run accountancy practise based in Wokingham, Berkshire. We are a small business but with an emphasis on BIG commitment...See More
BARNES MAYER LIMITED
Barnes Mayer Ltd is an independent, family run business providing accounting and taxation services throughout Maidenhead, Berkshire and Buckinghamshir...See More
The Bean Counters Accountants LLP
Established in 2011, The Bean Counters Accountants is a growing accounting firm in Maidenhead which specializes in cloud accounting and bookkeeping, p...See More
Frequently asked questions
What is the role of a company liquidator in Hedge End?
A licensed insolvency practitioner acts as an agent of the company and its creditors. Their role is to take control of the company's assets, sell them in an orderly manner, investigate the directors' conduct, and distribute the proceeds to creditors according to the legal hierarchy. They also handle all necessary filings with Companies House and HMRC to formally dissolve the company.
How much does a Creditors' Voluntary Liquidation (CVL) cost in Hedge End?
The cost varies depending on the complexity of the company's affairs, but most reputable firms offer a fixed fee structure. Typically, fees range from £4,000 to £8,000 plus VAT, which covers the statutory work, disbursements, and the final meeting of creditors. You should always obtain a written quote before engaging a liquidator.
Can I keep my business assets if I enter liquidation?
In a CVL, the liquidator is legally obligated to sell assets to repay creditors. However, you may be able to buy back certain assets from the liquidator at a fair market value, provided this does not prejudice creditors. Assets subject to a floating charge or fixed charge held by a bank may need specific permission from that lender.
What is the difference between a CVL and a compulsory liquidation?
A CVL is a voluntary process initiated by the directors and shareholders when the company is insolvent. It requires a shareholder resolution and is the most common route. Compulsory liquidation is a court-ordered process, usually initiated by a creditor petitioning for a winding-up order. Directors generally prefer a CVL because it offers more control and avoids the stigma of a court order.
Will I be personally liable for company debts after liquidation?
Generally, no. The principle of limited liability protects directors from personal responsibility for company debts, provided there has been no wrongful trading, fraudulent activity, or personal guarantees given. If you have signed personal guarantees for loans or leases, the creditor can pursue you personally for those specific debts, but not for general trade debts.
How long does the liquidation process take in Hedge End?
The entire process from the initial meeting to the final dissolution usually takes between 6 to 12 months. The liquidator must first realise assets, agree claims with creditors, and then make distributions. After that, a final account is filed, and the company is formally dissolved at Companies House, which typically occurs three months after the final meeting.
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