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
MGM & CO. Chartered Certified Accountants
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Holdsworth Accountancy
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Accounting 4 Ltd
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Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More
Mind Your Assets Accounts
Mind Your Assets Accounts is based in Sheffield, South Yorkshire, with offices also in Manchester and London. We have over 20 years accountancy expe...See More
Clarity Accountants
We work closely with our clients and act for a broad range of business and personal clients. Apart from the more general accountancy services we can a...See More
Cheaper Accountant
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Harris Rosenberg Chartered Accountants
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GORILLA ACCOUNTING LIMITED
orilla Accounting was born after a group of specialist accountants with decades of experience amongst them, decided that accounting shouldn’t be a lab...See More
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Norbury Bookkeeping Services
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PAYLESS ACCOUNTING & OUTSOURCING LIMITED
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Athena Bookkeeping Services
Athena Accounting and Bookkeeping Services. ?Let us take good care of your finances giving you more time to focus on the day to day running of your bu...See More
Sambhav Management Limited
Since 2012, we’ve offered clients the tools, resources and guidance necessary for all their accounting needs. Clients receive the personalized attenti...See More
LLOYDS ACCOUNTANTS LTD
We offer accounts, taxation and business advisory and support services to a wide range of businesses and individuals, nationwide. We continue to build...See More
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
BROOKSON LIMITED
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C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
ACCOUNTS 2U LIMITED
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Frequently asked questions
What is the difference between a CVL and an MVL in Islington?
A Creditors Voluntary Liquidation (CVL) is used for insolvent companies that cannot pay their debts, while a Members Voluntary Liquidation (MVL) is for solvent companies that wish to close, often for tax efficiency or retirement. In a CVL, creditors control the process, whereas in an MVL, shareholders appoint the liquidator.
How much does company liquidation cost in Islington?
Costs vary based on the complexity of the case, the number of creditors, and the assets involved. For a straightforward CVL, fees typically range from £3,000 to £6,000 plus VAT, but we offer fixed-fee quotes after a free initial consultation. MVL costs are often lower, starting around £2,500.
Can I continue trading after my company enters liquidation?
No. Once a liquidation order is made, the liquidator takes control of the company's affairs. Trading must cease immediately, except for the liquidator's actions to wind down operations safely. Directors must not incur further credit or sell assets without the liquidator's permission.
What are the legal duties of directors during liquidation in Islington?
Directors must cooperate fully with the liquidator, provide all company records and financial information, and avoid preferential payments to any creditor. They must also declare any transactions at an undervalue or wrongful trading. Failure to comply can lead to personal liability or disqualification.
How long does a company liquidation take in Islington?
A CVL typically completes within 6 to 12 months, depending on asset realisation and creditor claims. An MVL can be faster, often closing in 3 to 6 months. Complex cases with litigation or missing records may take longer, but we aim to expedite the process.
Will I be personally liable for company debts after liquidation?
Generally, no. Limited liability protects directors from company debts, provided there was no fraud, wrongful trading, or personal guarantees. However, if you signed personal guarantees for loans or leases, creditors can pursue you for those amounts. Our advisors help you assess your exposure.
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