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
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
Frequently asked questions
What is the role of a company liquidator in Pembrokeshire?
A company liquidator in Pembrokeshire is a licensed insolvency practitioner who manages the winding-up of an insolvent company. Their role includes selling company assets, distributing proceeds to creditors fairly, investigating director conduct, and ensuring legal compliance. They also handle all paperwork with Companies House and HMRC, and they can advise on whether liquidation is the best option or if an alternative like a CVA or administration is more suitable.
How much does company liquidation cost in Pembrokeshire?
The cost of company liquidation in Pembrokeshire varies depending on the complexity of the case, the number of creditors, and the assets involved. Typically, fees range from £3,000 to £6,000 plus VAT for a straightforward Creditors' Voluntary Liquidation. Many liquidators offer a fixed fee or a payment plan funded from company assets. Always request a detailed quote before engaging a liquidator, and ensure they are licensed by a recognised body like the IPA or ICAS.
Can I liquidate a company with no assets in Pembrokeshire?
Yes, you can liquidate a company with no assets, but it is often done through a Creditors' Voluntary Liquidation if debts exceed £5,000. If there are no assets and no significant creditor interest, you may consider a voluntary strike-off, which is cheaper but does not protect against director misconduct claims. A licensed liquidator can assess your situation and recommend the most cost-effective and legally safe route, especially if you have director loans or personal guarantees.
What is the difference between compulsory and voluntary liquidation in Pembrokeshire?
Compulsory liquidation is a court-ordered process, usually initiated by a creditor (like HMRC) who petitions the court to wind up the company. Voluntary liquidation is initiated by directors or shareholders. For insolvent companies, directors often choose Creditors' Voluntary Liquidation (CVL) because it gives them more control over the choice of liquidator and avoids the stigma of a court order. Compulsory liquidation is more expensive and may involve penalties for directors.
What happens to employees when a company goes into liquidation in Pembrokeshire?
When a company goes into liquidation, all employees are automatically dismissed from the date of liquidation. The liquidator will provide redundancy claim forms (RP1) to each employee, who can then claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund via the Redundancy Payments Service. The liquidator also assists in verifying claims and ensures preferential creditors, such as employees, are paid before unsecured creditors.
Can directors be held personally liable after liquidation in Pembrokeshire?
Yes, directors can be held personally liable if they have acted wrongfully or fraudulently, such as trading while insolvent, misusing company funds, or failing to keep proper records. A liquidator will investigate director conduct and may apply for a disqualification order or a contribution to assets. However, if directors act honestly and cooperate with the liquidator, they are generally not personally liable for company debts, unless they have given personal guarantees.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.