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
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Norbury Bookkeeping Services
We offer a complete bookkeeping and computerized payroll service throughout Cheshire and South Manchester and are able to offer support for all financ...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
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...See More
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
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
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...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
ACCOUNTS 2U LIMITED
Our director, Howard Turner MAAT ATT, qualified as an accounting and taxation technician in 1995 after training with chartered accountants in Cheshire...See More
BROOKSON LIMITED
Why Brookson? There are plenty of reasons. We’re specialists at dealing with self-employed finances, and have been doing this for over 20 years, so we...See More
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
MGM & CO. Chartered Certified Accountants
If you are looking for professional accountants offering a full range of accountancy and tax services to clients from across the UK, you have come to ...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
MJF ACCOUNTANCY LIMITED
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...See More
Holden Associates
Holden Associates are a family run business founded in 2002, we are located at V12, Merlin Park, a modern purpose-built office in Burscough, Lancashir...See More
Accounting 4 Ltd
Registered practice offering accountancy services from Bookkeeping, Payroll, Vat, Self Assessment, Small Limited Company accounts etc Qualified to AAT...See More
Frequently asked questions
What are the first steps to take if my company in Lancashire is insolvent?
The first steps are to stop trading immediately if you cannot pay debts as they fall due, review your financial position with an insolvency practitioner, and call a board meeting to discuss options. You should also notify your bank and key suppliers. Seeking professional advice early is critical because continuing to trade while insolvent can lead to personal liability for wrongful trading.
How much does a company liquidation cost in Lancashire?
The cost of a Creditors Voluntary Liquidation (CVL) in Lancashire typically ranges from £3,000 to £7,000 plus VAT, depending on the complexity of the case, the number of assets, and the level of creditor involvement. Our fees are often paid from company assets, and we provide a fixed-fee quote after a free initial consultation.
Can I keep my business assets after liquidation?
Generally, no. In a Creditors Voluntary Liquidation, all company assets are realised to pay creditors. However, you may be able to purchase assets from the liquidator at market value if you have personal funds. For solvent liquidations (MVL), shareholders can receive remaining assets as capital distributions, subject to tax rules.
What is the difference between a CVL and an MVL?
A Creditors Voluntary Liquidation (CVL) is used for insolvent companies where liabilities exceed assets, and it is initiated by directors to avoid compulsory court winding-up. A Members Voluntary Liquidation (MVL) is for solvent companies, allowing shareholders to close the company and extract retained profits as capital gains, which can be taxed at a lower rate than dividends.
How long does a company liquidation take in Lancashire?
A Creditors Voluntary Liquidation typically takes between 6 to 12 months to conclude, depending on the complexity of asset realisation and creditor claims. A Members Voluntary Liquidation can often be completed in 3 to 6 months if the company has no significant liabilities and all assets are easily distributed.
Will I be personally liable for company debts after liquidation?
In most cases, no. The limited liability structure protects directors' personal assets from company debts, provided there has been no fraud, wrongful trading, or personal guarantees. However, if you have given personal guarantees for loans or leases, the lender can pursue you personally. Our liquidators will assess any potential risks during your initial consultation.
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