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
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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
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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
Clarity Accountants
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Athena Bookkeeping Services
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Harris Rosenberg Chartered Accountants
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PAYLESS ACCOUNTING & OUTSOURCING LIMITED
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ACCOUNTS 2U LIMITED
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BROOKSON LIMITED
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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
MGM & CO. Chartered Certified Accountants
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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
Accounting 4 Ltd
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Holdsworth Accountancy
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MJF ACCOUNTANCY LIMITED
Pepperhill Associates
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Frequently asked questions
What is the difference between a CVL and an MVL in Marple?
A Creditors Voluntary Liquidation (CVL) is used for an insolvent company that cannot pay its debts, where a liquidator is appointed to wind up the business and distribute assets to creditors. A Members Voluntary Liquidation (MVL) is for a solvent company, typically used by directors who wish to close a business and extract retained profits under capital gains tax treatment. In Marple, our licensed liquidators will assess your company's solvency status and recommend the appropriate procedure, ensuring full compliance with UK insolvency law.
How long does the liquidation process take in Marple?
The duration of a liquidation in Marple depends on the complexity of the company's affairs. A straightforward CVL can be completed in as little as six to nine months, while an MVL may take slightly longer if there are multiple assets to realise or legal claims to resolve. Our liquidators work efficiently to expedite the process, but statutory requirements, such as creditor notification periods and asset realisation, must be followed. We provide a realistic timeline during your initial consultation.
Can I continue trading after my company enters liquidation?
Once a company enters liquidation, the appointed liquidator takes control of the business, and the directors' powers cease. Trading can only continue if the liquidator decides it is beneficial to the creditors, for example, to sell stock as a going concern or complete existing contracts. In most cases, trading stops immediately. Our team will advise you on the legal implications and help you understand your duties during this period to avoid personal liability.
What are the costs of hiring a company liquidator in Marple?
The cost of liquidation varies based on the size of the company, the number of creditors, and the complexity of asset realisation. For a CVL, fees are typically paid from the company's assets, but if assets are insufficient, creditors or directors may need to fund the process. Our Marple liquidators provide transparent, fixed-fee quotes upfront, with no hidden charges. We also offer a free initial consultation to discuss your financial position and provide a clear cost breakdown.
Will I be personally liable for company debts after liquidation?
In most cases, directors are not personally liable for company debts if they have acted in good faith and complied with their statutory duties. However, if there is evidence of wrongful trading, fraudulent activity, or personal guarantees, you may be held personally accountable. Our liquidators will review your conduct and advise on any potential risks. We also help you understand the implications of director loan accounts and guarantees, ensuring you are fully informed before proceeding.
Can I claim redundancy if my company goes into liquidation?
Yes, if you are a director and employee of a company that enters liquidation, you may be able to claim redundancy pay, notice pay, and holiday pay from the National Insurance Fund. This is subject to eligibility criteria, including having a valid employment contract. Our liquidators can assist you in preparing the necessary claims and submitting them to the Redundancy Payments Service, maximising your entitlements during a difficult time.
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