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
Modus Accountants Limited
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DEAD SIMPLE ACCOUNTING LTD
Dead Simple Accounting is an expert accounting firm based in Reading, Berkshire. We’ve been supporting the local business community in Reading with a ...See More
SG CONTRACTOR ACCOUNTING LIMITED
SG Accounting was established in 1995 to service the accountancy and taxation needs of professional contractors and freelancers. We are based in Winc...See More
Turner Barratt
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Kings Oak Accountancy
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KINGS OAK ACCOUNTANCY (SOMERSET) LTD
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Accounting etc. limited
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QUENTELA ACCOUNTING LIMITED
Quentela Accounting is a family run accountancy practise based in Wokingham, Berkshire. We are a small business but with an emphasis on BIG commitment...See More
HUBBLE ACCOUNTANCY LTD
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The Bean Counters Accountants LLP
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BARNES MAYER LIMITED
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TKI Bookkeeping & Accounts
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DIrect Assist accountants Ltd
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ADD- WORTH ACCOUNTANCY LTD
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Financial Claims Consultants
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TITUS ACCOUNTS LTD
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DOLAN ACCOUNTANCY LIMITED
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EXPEDIENT ACCOUNTANCY
Expedient Accountancy Limited provides a wide range of expert accounting services. We are a partnership of 3 Chartered Certified Accountants with more...See More
Frequently asked questions
What are the signs that my company in Mildenhall needs liquidation?
Key signs include inability to pay debts as they fall due, persistent creditor pressure, statutory demands, winding-up petitions, cash flow problems, and declining profitability. If you are considering liquidation, it is crucial to seek professional advice early to avoid wrongful trading and personal liability.
What is the difference between creditors voluntary liquidation and compulsory liquidation?
Creditors voluntary liquidation (CVL) is initiated by directors when the company is insolvent, and shareholders pass a resolution to wind up voluntarily. Compulsory liquidation is forced by creditors through a court order, often after a winding-up petition. A licensed liquidator manages both processes, but CVL gives directors more control.
Can I keep trading while my company is in liquidation?
Once liquidation begins, the liquidator takes control of the company and trading generally ceases. However, in some cases, the liquidator may continue trading temporarily to sell assets or complete contracts. Directors cannot trade without the liquidator's permission, as this could lead to personal liability.
What are the legal duties of directors when a company is insolvent in Mildenhall?
Directors must act in the interests of creditors, avoid wrongful trading, and not prefer certain creditors over others. They must also cooperate with the liquidator and provide accurate financial records. Failing these duties can result in disqualification, fines, or personal liability for company debts.
How much do company liquidators in Mildenhall charge?
Fees vary depending on the complexity of the liquidation, asset values, and creditor structure. Most liquidators charge a fixed fee for a CVL, which is often paid from company assets. We provide transparent pricing and a free initial consultation to discuss costs before you commit.
What happens to employees if my company goes into liquidation?
Employees are automatically made redundant when a liquidation order is made. The liquidator will assist in claiming redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. Employees are preferential creditors, but their claims may be limited if assets are insufficient.
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