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
Business Partners Accountants & Bookkeepers
An accounting firm for all your accounting and bookkeeping needs Business Partners Accountants & Bookkeepers is a reputable accounting firm serving so...See More
T.Y.E BOOKKEEPING LTD
For all your bookkeeping needs from self assessments, VAT returns, EC Sales List, general bookkeeping for sole traders or small businesses. I work on ...See More
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Raven Solution
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AMSTOR ACCOUNTANTS LIMITED
Amstor Accountants Limited T/A Premier Accountants, Auditors and Tax Advisers want to help you pay less tax and keep more of the profit your business ...See More
Naseems Accountants
Established in 1978, Naseems Accountants is a small but growing business with our clients doubled over the last decade. We honor ourselves in ou...See More
MRC Accounting Services
Providing accounting services and solutions
Capital Accountancy - Accountants & Tax Advisors
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HHR ACCOUNTANCY LTD
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Pharmatax
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FLEXIE ACCOUNTANTS LTD
Flexie Accountants is a reputable accounting firm, providing accounting, finance and tax services to sole traders, partnership and Limited companies. ...See More
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R Albert Accountancy Ltd
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Zak Partnership
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Msi Accountancy Services
At MSI - Accountants & Bookkeepers - We have a strong network of Accountants, Bookkeepers & Tax Advisors who are very friendly and down to earth and a...See More
Matrix Accountancy Services Limited
Will Farmer FMAAT, AAT Licensed Accountant and Director of Matrix Accountancy Services Limited Hi I'm Will, In 2012 I...
Matrix Accountancy Services
"Offering a friendly and professional service, I provide ongoing advice and support for every stage of your business journey. As an AAT Licensed Acc...See More
SAFEBOOKS4U BOOKKEEPING SERVICES
For all Your Bookkeeping Needs Safebooks4u specializes in a variety of bookkeeping services with outstanding support. We understand how busy you are,...See More
ADD- WORTH ACCOUNTANCY LTD
Helping business owners make sense of their numbers. 30+ years of progressive finance and accounting experience in various industries. Offering expert...See More
Frequently asked questions
What is the role of a company liquidator in Lichfield?
A company liquidator in Lichfield is a licensed insolvency practitioner who manages the closure of a company. Their role includes realising company assets, settling creditor claims, investigating the company's affairs, and ensuring that the liquidation process complies with the Insolvency Act 1986. They also report to creditors and Companies House, and they aim to achieve the best possible return for creditors while protecting the interests of directors who have acted responsibly.
How much does company liquidation cost in Lichfield?
The cost of company liquidation in Lichfield varies depending on the complexity of the case, the size of the company, and the type of liquidation required. For a Creditors Voluntary Liquidation (CVL), fees typically range from £3,000 to £6,000 plus VAT and disbursements. Many liquidators offer a no-win, no-fee arrangement, meaning you only pay if the liquidation proceeds. Our firm provides a free, no-obligation quote after assessing your company's financial position.
Can a company in Lichfield be liquidated if it is solvent?
Yes, a solvent company in Lichfield can be closed using a Members Voluntary Liquidation (MVL). This process is suitable for companies that can pay all debts in full within 12 months. An MVL allows for the orderly distribution of assets to shareholders and can be tax-efficient for extracting retained profits as capital rather than income. Our licensed liquidators can guide you through the MVL process, which requires a statutory declaration of solvency from directors.
What is the difference between CVL and administration?
A Creditors Voluntary Liquidation (CVL) is a formal insolvency procedure that ends the company's existence, after which it is struck off the register. Administration is a rescue-oriented process that gives a company temporary protection from creditors while an administrator attempts to restructure or sell the business as a going concern. Administration can lead to liquidation if rescue fails, but it may preserve jobs and business value. Your choice depends on whether the business is viable with restructuring.
Will I be personally liable for company debts after liquidation?
Generally, directors are not personally liable for company debts if they have acted within the law and not given personal guarantees. However, if you have given a personal guarantee for a business loan or overdraft, the creditor can pursue you for that debt. Additionally, if wrongful trading, fraudulent trading, or misfeasance is found, you could be held personally responsible. Our liquidators can advise on your specific liabilities and help you avoid personal claims.
How long does a company liquidation take in Lichfield?
The duration of a company liquidation in Lichfield depends on the complexity of the case. A straightforward Creditors Voluntary Liquidation (CVL) can take between 6 to 12 months to complete, including the final distribution to creditors and dissolution of the company. Members Voluntary Liquidation (MVL) may be completed in as little as 6 months if all debts are settled quickly. Complex cases involving asset realisation or legal disputes can take longer, but we keep you informed throughout.
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