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
OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
Cruse+Burke
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Owadally & Kings Partnership
At O&K we aspire to be one of the most forward thinking accountancy firms in Croydon. Our dedicated in-house team, and external specialists, based in ...See More
Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Marden & Co Accountants Ltd
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APRC Accountants
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Taxaccolega Chartered Accountants & Tax Advisers
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EFJ CONSULTING LTD
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Tax Cruncher
Tax Cruncher is an online accounting &Tax consulting firm serving clients nationwide. Our aim is to help SMEs to grow their business by crunching thei...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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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
Abu Umar & Co.
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Coman And Co Ltd
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Accounting Made Simple
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Frequently asked questions
What is the role of a company liquidator in Pevensey?
A company liquidator in Pevensey is a licensed insolvency practitioner who manages the closure of a company. Their role involves realising the company's assets, settling outstanding debts with creditors in the correct legal order, investigating the directors' conduct, and ultimately dissolving the company from the Companies House register. They ensure the process is handled legally and fairly for all parties.
How do I know if my Pevensey company is insolvent?
A company is legally insolvent if it cannot pay its debts as they fall due, or if its liabilities exceed its assets. Key signs include persistent cash flow problems, receiving statutory demands or winding-up petitions from creditors, and having HMRC enforcement action against you. If you are unsure, our liquidators can review your financial position and provide a definitive assessment.
What is the difference between a CVL and an MVL?
A Creditors Voluntary Liquidation (CVL) is used for an insolvent company, where creditors are owed money and the company cannot pay. An MVL (Members Voluntary Liquidation) is for a solvent company, where directors can confirm solvency and wish to close the business for tax or retirement reasons. The procedures differ in the required declarations, creditor involvement, and the liquidator's duties.
Can a liquidator help with director personal guarantees?
A liquidator cannot remove a director's personal liability under a personal guarantee, as that is a separate contract between the director and the lender. However, they can provide advice on negotiating with the lender, potentially reaching a settlement, and they will ensure that the company's liquidation does not inadvertently worsen your personal position. It is important to seek independent legal advice on guarantees.
What happens to employees during a company liquidation in Pevensey?
When a company enters liquidation, all employees are automatically made redundant by the liquidator. The liquidator will assist employees in claiming statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund (via the Redundancy Payments Service). They will also provide the necessary forms and guidance to ensure employees receive their legal entitlements.
How long does the liquidation process take in Pevensey?
The initial liquidation meeting and appointment of the liquidator can happen within a few weeks of instruction. However, the full closure of the company typically takes between 6 to 12 months, depending on the complexity of the asset realisation, the number of creditors, and any investigations required. Simple cases may complete sooner, while complex ones with litigation can take longer.
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