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
Kings Oak Accountancy
Accountants based in Bristol, Bath & Somerset providing accounting and tax services to small and medium size owner-managed businesses. Our services in...See More
KINGS OAK ACCOUNTANCY (SOMERSET) LTD
We are a small firm of Accountants based in Somerset. Michael is a fellow of the Chartered Institute of Management Accounting with over 30 years expe...See More
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HUBBLE ACCOUNTANCY LTD
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TKI Bookkeeping & Accounts
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Williamslester Brilliant Accounting Services
Our range of services are provided by fully qualified and experienced staff who always monitor, advise and review both new and existing clients. This ...See More
Purnells - Licensed Insolvency Practitioners
As insolvency practitioners we also specialise in interpreting the legislation set out in The Insolvency Act 1986, The Insolvency (England and Wale...
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MARLIS BOOKKEEPING & ACCOUNTANCY
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Financial Claims Consultants
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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
Modus Accountants Limited
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Woody's Payroll & Bookkeeping Services
Here at Woody's we have years of experience in providing a dedicated, professional and highly personal service to our clients. We offer a wide range o...See More
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
Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...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
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
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R Albert Accountancy Ltd
We are an AAT Licensed accountancy practice providing a professional and friendly service. A new accountancy practice offering fantastic one to one s...See More
Frequently asked questions
What is the difference between a Creditors Voluntary Liquidation (CVL) and a Members Voluntary Liquidation (MVL)?
A Creditors Voluntary Liquidation (CVL) is used when a company is insolvent and cannot pay its debts. An insolvency practitioner is appointed to wind up the company, sell assets, and distribute funds to creditors. A Members Voluntary Liquidation (MVL) is for solvent companies where directors can confirm solvency, allowing the company to be closed formally, often for tax efficiency when extracting retained profits.
How much does company liquidation cost in Paulton?
The cost varies depending on the complexity of the company's affairs, the number of creditors, and the assets involved. For a CVL, fees typically range from £3,000 to £6,000 plus VAT, and often the liquidator's fees are paid from company assets. We offer fixed-fee structures for MVLs and free initial consultations to provide an accurate quote after reviewing your situation.
Can I keep trading after my company enters liquidation?
No. Once a liquidation order is made, the appointed liquidator takes control of the company. Directors cease to have authority to trade or make decisions. However, the liquidator may continue trading for a short period to complete contracts or sell stock, but this is done under their supervision and for the benefit of creditors.
What are my responsibilities as a director during liquidation?
Directors must cooperate fully with the liquidator, providing all company records, financial statements, and access to assets. You must also complete a statement of affairs detailing the company's assets and liabilities. Failure to cooperate can lead to personal liability, disqualification, or even criminal prosecution in cases of wrongful trading or fraud.
Will I be personally liable for company debts after liquidation?
Generally, no. Limited liability protects directors from personal responsibility for company debts. However, if you have given personal guarantees for loans or leases, you may be pursued by creditors. Also, if wrongful trading or fraudulent activity is proven, a court can make you personally liable for some debts. Our advice helps you avoid such risks.
How long does the liquidation process take in Paulton?
A CVL typically takes between 6 to 12 months to complete, depending on asset realisation and creditor claims. An MVL can be completed in as little as 3 to 6 months. The process involves statutory meetings, filings with Companies House, and final distribution to shareholders. We keep you informed throughout.
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