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
J. Jervis Accounting Services LTD
THE FINANCIAL MANAGEMENT CENTRE UK LTD
Online firm
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
Business Partners Accountants & Bookkeepers
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MRC Accounting Services
Providing accounting services and solutions
BROOKSON LIMITED
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Sambhav Management Limited
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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
MJF ACCOUNTANCY LIMITED
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R Albert Accountancy Ltd
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T.Y.E BOOKKEEPING LTD
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Oakes Accounting
Oakes Accounting specializes in providing tailor made accounting services, including bookkeeping, VAT and self assessment to small businesses.
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
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
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Raven Solution
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
Naseems Accountants
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PAYLESS ACCOUNTING & OUTSOURCING LIMITED
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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
Frequently asked questions
What is the role of a company liquidator in Market Drayton?
A company liquidator is a licensed insolvency practitioner who manages the closure of a company. Their role includes selling company assets, settling creditor claims, investigating director conduct, and distributing any remaining funds to shareholders. In Market Drayton, we handle both solvent and insolvent liquidations, ensuring the process complies with the Insolvency Act 1986.
How much does company liquidation cost in Market Drayton?
Costs vary depending on the complexity of the company's affairs. For a Creditors' Voluntary Liquidation (CVL), fees typically range from £4,000 to £8,000 plus VAT, often paid from company assets. For a solvent Members' Voluntary Liquidation (MVL), fees are usually fixed around £2,500 to £5,000. We provide a transparent quote after a free consultation.
What is the difference between CVL and MVL?
A Creditors' Voluntary Liquidation (CVL) is used when a company is insolvent, meaning it cannot pay its debts. A Members' Voluntary Liquidation (MVL) is for solvent companies where directors want to close voluntarily, often for tax efficiency. In an MVL, directors must swear a declaration of solvency, and creditors are paid in full.
Can I liquidate my company if I have personal guarantees on business loans?
Yes, you can liquidate, but personal guarantees mean you remain personally liable for those specific debts. The liquidator will not be able to write off guaranteed loans, and creditors may pursue you directly. We recommend seeking legal advice on personal guarantees before starting liquidation, as this can affect your personal assets.
How long does the liquidation process take in Market Drayton?
The initial liquidation meeting can be held within 2 to 4 weeks of instruction. The formal process, including asset realisation and creditor distributions, typically takes 6 to 12 months. For simple cases with minimal assets, it may be completed sooner, but complex investigations can extend the timeline.
What happens to employees when a company is liquidated?
Employees are made redundant immediately when a company enters liquidation. They can claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund (via the Redundancy Payments Service). The liquidator provides employees with the necessary forms (RP1, RP2, and RP3) to make these claims.
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