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
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
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MARLIS BOOKKEEPING & ACCOUNTANCY
The team comprises of Marion and Lisa, a mother and daughter combination, who offe...
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HUBBLE ACCOUNTANCY LTD
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
TKI Bookkeeping & Accounts
Hello and welcome to my site, I am qualified by the The Institute of Certified Bookkeepers and have attained highest level qualification, Level 4 Dipl...See More
Kings Oak Accountancy
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KINGS OAK ACCOUNTANCY (SOMERSET) LTD
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Woody's Payroll & Bookkeeping Services
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Purnells - Licensed Insolvency Practitioners
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Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
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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
Financial Claims Consultants
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Modus Accountants Limited
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SG CONTRACTOR ACCOUNTING LIMITED
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MRC Accounting Services
Providing accounting services and solutions
Capital Accountancy - Accountants & Tax Advisors
WE at CAPITAL ACCOUNTANCY specialises in helping small-to-medium sized businesses, sole traders, contractors and landlords. We make sure you pay the r...See More
ADD- WORTH ACCOUNTANCY LTD
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Naseems Accountants
Established in 1978, Naseems Accountants is a small but growing business with our clients doubled over the last decade. We honor ourselves in ou...See More
Frequently asked questions
What are the signs that my company in Penarth needs liquidation?
Key signs include persistent cash flow problems, inability to pay debts when due, creditor pressure, legal threats, or trading at a loss. If your liabilities exceed assets and recovery is unlikely, liquidation may be the best option to prevent further losses and legal consequences.
How much do company liquidators in Penarth charge?
Costs vary based on the complexity and size of the company. For a Creditors’ Voluntary Liquidation, fees typically range from £3,000 to £7,000 plus VAT, depending on asset realisation and work involved. We provide a fixed-fee quote after an initial assessment.
What is the difference between voluntary and compulsory liquidation?
Voluntary liquidation is initiated by the company’s shareholders, usually via a Creditors’ Voluntary Liquidation (CVL), when the company is insolvent. Compulsory liquidation is forced by a court order, often after a creditor issues a winding-up petition. We can guide you on which route is appropriate.
Can I continue trading while my company is in liquidation?
No. Once liquidation begins, the appointed liquidator takes control of the company’s affairs. Directors’ powers cease, and trading is only permitted if the liquidator decides it is necessary for the beneficial realisation of assets. Continuing to trade after insolvency may lead to personal liability.
What are the legal duties of directors during liquidation in Penarth?
Directors must cooperate fully with the liquidator, provide all company records and financial information, and disclose any transactions made in the period before insolvency. Failure to do so can result in personal liability, disqualification, or even criminal prosecution.
Will I be personally liable for company debts after liquidation?
Generally, no, if you have acted lawfully and not given personal guarantees. However, if wrongful trading, fraudulent activity, or misfeasance is found, directors can be held personally responsible. Our liquidators help you avoid these risks by advising on correct procedures.
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