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
MJF ACCOUNTANCY LIMITED
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
BROOKSON LIMITED
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GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...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
Oakes Accounting
Oakes Accounting specializes in providing tailor made accounting services, including bookkeeping, VAT and self assessment to small businesses.
ACCOUNTS 2U LIMITED
Our director, Howard Turner MAAT ATT, qualified as an accounting and taxation technician in 1995 after training with chartered accountants in Cheshire...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
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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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
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
Cheaper Accountant
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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
NIXON WILLIAMS LIMITED
Nixon Williams has been providing specialist accountancy services to contractors, freelancers, consultants and interim professionals throughout the UK...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
Clarity Accountants
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THE FINANCIAL MANAGEMENT CENTRE UK LTD
Online firm
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 for insolvent companies where directors cannot pay debts, and it is initiated by shareholders but controlled by creditors. A members voluntary liquidation (MVL) is for solvent companies where directors swear a declaration of solvency, and the company is wound up to distribute surplus assets to shareholders. In Prescot, our licensed insolvency practitioners can advise which route is appropriate based on your company's financial position.
How much do company liquidation services cost in Prescot?
The cost of liquidation varies depending on the complexity of the company, the number of assets, and the level of creditor involvement. For a simple creditors voluntary liquidation, fees typically range from £2,500 to £5,000 plus VAT, but we offer fixed-fee packages with no hidden costs. Members voluntary liquidations may have lower fees if the company is straightforward. We provide a free, no-obligation quote after reviewing your company's accounts and circumstances.
Can I liquidate a company myself without using a licensed insolvency practitioner?
No, it is a legal requirement that a licensed insolvency practitioner (IP) is appointed to act as the liquidator for both CVL and MVL procedures. Attempting to wind up a company without proper professional oversight can lead to personal liability, penalties, and even director disqualification. Our Prescot liquidators are fully licensed and regulated by recognised professional bodies, ensuring the process is handled correctly and lawfully.
What happens to employees when a company goes into liquidation in Prescot?
When a company enters liquidation, employees are automatically dismissed from the date the winding-up order is made or the resolution is passed. The liquidator is responsible for ensuring employees receive statutory redundancy payments, unpaid wages, holiday pay, and notice pay, which may be claimed from the National Insurance Fund if the company cannot pay. Our team will guide you through the employee communication process and help with any claims.
Will I be personally liable for company debts after liquidation?
In most cases, directors of a limited company are not personally liable for company debts, as the company is a separate legal entity. However, if you have given personal guarantees for loans or overdrafts, you may be liable for those specific debts. Additionally, if wrongful trading or fraudulent activity is found, directors can be held personally responsible. Our Prescot liquidators will assess your situation and advise on any potential risks before proceeding.
How long does the liquidation process take in Prescot?
The length of a liquidation varies. A creditors voluntary liquidation typically takes between 6 to 12 months to complete, depending on the complexity of asset realisation and creditor claims. A members voluntary liquidation can be completed in as little as 3 to 6 months if the company is solvent and all debts are settled. Our team works efficiently to finalise all matters as quickly as possible, keeping you informed throughout.
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