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
Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More
Clarity Accountants
We work closely with our clients and act for a broad range of business and personal clients. Apart from the more general accountancy services we can a...See More
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...See More
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...See More
GORILLA ACCOUNTING LIMITED
orilla Accounting was born after a group of specialist accountants with decades of experience amongst them, decided that accounting shouldn’t be a lab...See More
PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...See More
Athena Bookkeeping Services
Athena Accounting and Bookkeeping Services. ?Let us take good care of your finances giving you more time to focus on the day to day running of your bu...See More
MGM & CO. Chartered Certified Accountants
If you are looking for professional accountants offering a full range of accountancy and tax services to clients from across the UK, you have come to ...See More
LLOYDS ACCOUNTANTS LTD
We offer accounts, taxation and business advisory and support services to a wide range of businesses and individuals, nationwide. We continue to build...See More
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Norbury Bookkeeping Services
We offer a complete bookkeeping and computerized payroll service throughout Cheshire and South Manchester and are able to offer support for all financ...See More
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
Sambhav Management Limited
Since 2012, we’ve offered clients the tools, resources and guidance necessary for all their accounting needs. Clients receive the personalized attenti...See More
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
BROOKSON LIMITED
Why Brookson? There are plenty of reasons. We’re specialists at dealing with self-employed finances, and have been doing this for over 20 years, so we...See More
Holden Associates
Holden Associates are a family run business founded in 2002, we are located at V12, Merlin Park, a modern purpose-built office in Burscough, Lancashir...See More
Accounting 4 Ltd
Registered practice offering accountancy services from Bookkeeping, Payroll, Vat, Self Assessment, Small Limited Company accounts etc Qualified to AAT...See More
NIXON WILLIAMS LIMITED
Nixon Williams has been providing specialist accountancy services to contractors, freelancers, consultants and interim professionals throughout the UK...See More
Frequently asked questions
What is a Creditors Voluntary Liquidation (CVL) in Portsmouth?
A Creditors Voluntary Liquidation (CVL) is a formal insolvency process for a company that cannot pay its debts. In Portsmouth, a licensed insolvency practitioner is appointed to wind up the company's affairs, sell its assets, and distribute the proceeds to creditors. The process typically takes 6 to 12 months, after which the company is dissolved. It allows directors to avoid personal liability for company debts, provided they have acted in good faith. Our Portsmouth liquidators guide you through every step, from calling a board meeting to filing the necessary documents with Companies House.
How much do company liquidators in Portsmouth charge?
The cost of liquidation in Portsmouth varies depending on the complexity of your company's financial situation, the number of creditors, and the assets involved. For a Creditors Voluntary Liquidation, fees typically range from £3,000 to £7,000 plus VAT and disbursements, but this can be higher for larger or more complex cases. Many liquidators offer a fixed-fee structure or work on a percentage of realised assets. At Company Liquidators in Portsmouth, we provide a transparent quote before any work begins, and we can often structure payments to be made from the company's assets, reducing the financial burden on directors.
Can I liquidate a company in Portsmouth if I am solvent?
Yes, if your company is solvent but you no longer need it, you can use a Members Voluntary Liquidation (MVL). This process is designed for solvent companies that have surplus cash or assets to distribute to shareholders in a tax-efficient manner. An MVL is often used by business owners who are retiring, restructuring, or moving on to new ventures. In Portsmouth, our liquidators will help you declare solvency, appoint a liquidator, and distribute assets within the legal framework. This process typically completes within 12 months and provides a clean exit from the company.
What are the duties of a director during liquidation in Portsmouth?
During liquidation in Portsmouth, directors must cooperate fully with the appointed liquidator. This includes providing all company records, financial statements, and access to assets. Directors must also attend interviews if required and disclose any transactions that may be considered preferential or at undervalue. Failure to cooperate can lead to personal liability, disqualification, or even criminal prosecution. Our liquidators will guide you through your duties, ensuring you understand your legal obligations and help you avoid common pitfalls. We aim to make the process as stress-free as possible while protecting your interests.
What happens to employees when a company in Portsmouth goes into liquidation?
When a company in Portsmouth enters liquidation, all employees are automatically made redundant from the date of the winding-up order. The liquidator is responsible for ensuring employees receive their statutory redundancy pay, unpaid wages, holiday pay, and notice pay, which may be claimed from the National Insurance Fund if the company cannot pay. Employees are also entitled to claim for any outstanding pension contributions. Our liquidators will provide clear information to employees about their rights, help them complete necessary forms, and liaise with the Redundancy Payments Office on their behalf to ensure they receive what they are owed.
How long does a company liquidation take in Portsmouth?
The duration of a company liquidation in Portsmouth depends on the type of liquidation and the complexity of the case. A Creditors Voluntary Liquidation (CVL) usually takes between 6 and 12 months, but this can extend if there are complex asset sales, legal disputes, or incomplete records. A Members Voluntary Liquidation (MVL) for solvent companies is often faster, typically concluding within 6 to 9 months. The liquidator must also allow time for creditors to submit claims and for statutory notices to be published. Our team provides realistic timelines from the outset and works efficiently to achieve the earliest possible dissolution of your company.
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