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
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
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
TITUS ACCOUNTS LTD
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Accounting etc. 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
Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More
BARNES MAYER LIMITED
Barnes Mayer Ltd is an independent, family run business providing accounting and taxation services throughout Maidenhead, Berkshire and Buckinghamshir...See More
DIrect Assist accountants Ltd
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Marden & Co Accountants Ltd
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OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
Tax Cruncher
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The Bean Counters Accountants LLP
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Hayes Accountants
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City Tax London
City Tax London provides unparalleled personalized accounting services and th...
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
Financial Partnership London
The Financial Partnership LLP, London, is a young, dynamic and innovative firm of Accountants & Business Advisors who can help improve the performance...See More
London Accountants
We have been providing a range of tailored accounting and taxation services to individuals as well as small and medium sized businesses. See More
Central London Accountants
We are proud partners of leading software provider firm Xero, and we can help if you require Xero Accountants in London, Xero training, or need remote...See More
Cheap - Accountants
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Frequently asked questions
What is the difference between solvent and insolvent liquidation in Passfield?
Solvent liquidation, known as Members' Voluntary Liquidation (MVL), is used when a company can pay its debts in full within 12 months, often for tax efficiency. Insolvent liquidation, typically a Creditors' Voluntary Liquidation (CVL), is for companies that cannot pay debts, involving creditor meetings and asset distribution. Our Passfield liquidators assess your financial position and recommend the correct procedure.
How much does a company liquidation cost in Passfield?
Costs vary based on company size, asset complexity, and creditor numbers. For a Creditors' Voluntary Liquidation, fees often range from £3,000 to £6,000 plus VAT, but we offer fixed-fee packages with no hidden charges. A Members' Voluntary Liquidation may cost between £2,000 and £4,000. We provide a free, no-obligation quote after reviewing your accounts.
Can I continue trading after appointing a liquidator?
No, once a liquidator is appointed, their control over the company begins. Trading must cease immediately, except for actions required to preserve asset value or complete outstanding contracts with the liquidator's permission. Continuing to trade while insolvent can lead to personal liability for wrongful trading, so it is crucial to seek advice early.
What are the legal duties of directors during liquidation in Passfield?
Directors must cooperate fully with the liquidator, providing all company records, financial statements, and explanations of transactions. They must not hide assets or prefer certain creditors. Failure to comply can result in personal liability, disqualification, or even criminal prosecution. Our team helps you understand and fulfil these duties to avoid penalties.
How long does the liquidation process take in Passfield?
A Creditors' Voluntary Liquidation typically takes 6 to 12 months to complete, depending on asset realisation and creditor claims. A Members' Voluntary Liquidation can be faster, often 3 to 6 months. Simple solvent strike-offs may take around 3 months. We provide a timeline after your initial consultation and keep you updated throughout.
Will employees lose their jobs if my company goes into liquidation?
In most liquidation cases, employees are made redundant immediately, but they may be entitled to claims for unpaid wages, holiday pay, and redundancy from the National Insurance Fund. Our liquidators work with the Redundancy Payments Service to ensure employees receive their statutory entitlements and provide guidance on the claims process.
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