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
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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
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
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
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
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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PAYLESS ACCOUNTING & OUTSOURCING LIMITED
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ACCOUNTS 2U LIMITED
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BROOKSON LIMITED
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Mind Your Assets Accounts
Mind Your Assets Accounts is based in Sheffield, South Yorkshire, with offices also in Manchester and London. We have over 20 years accountancy expe...See More
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
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
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...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
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...See More
MJF ACCOUNTANCY LIMITED
Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More
Frequently asked questions
What is the difference between Creditors Voluntary Liquidation (CVL) and Members Voluntary Liquidation (MVL) in Romiley?
A Creditors Voluntary Liquidation (CVL) is used when a company is insolvent, meaning it cannot pay its debts as they fall due. It is initiated by the directors and involves a meeting of creditors to approve the liquidation and appoint a liquidator. A Members Voluntary Liquidation (MVL) is for solvent companies where directors wish to close the business voluntarily, often for retirement or restructuring. In an MVL, shareholders pass a declaration of solvency, and the liquidator distributes assets to shareholders in a tax-efficient manner. Our Romiley team can guide you through both processes, ensuring you choose the correct route based on your company's financial health.
How much does company liquidation cost in Romiley?
The cost of liquidation in Romiley varies depending on the complexity of the case, the size of the company, and the number of creditors. For a straightforward Creditors Voluntary Liquidation (CVL), fees typically range from £3,000 to £6,000 plus VAT, but some practitioners offer fixed-fee packages. Members Voluntary Liquidation (MVL) costs are often higher due to the tax planning involved, usually starting around £2,500. At Company Liquidators, we provide transparent, fixed-fee quotes after a free initial consultation, with no hidden charges. We also advise on how liquidation costs are treated in the statutory order of priority, often being paid from company assets.
Can I continue to trade as a director after my company goes into liquidation in Romiley?
Yes, in most cases you can continue to trade as a director of another company, but there are restrictions. If you have been disqualified by the court or have acted in a way that led to wrongful trading, you may face restrictions. After a Creditors Voluntary Liquidation (CVL), you are not automatically banned from being a director, but you must ensure you do not use the same or a similar company name that is associated with the insolvent entity, unless you obtain permission from the court or follow the 'phoenix' provisions. Our Romiley insolvency practitioners can advise you on the legal requirements to avoid personal liability and ensure a clean start.
What happens to employees when a company goes into liquidation in Romiley?
When a company enters liquidation, employees are made redundant from the date of the liquidation order. The liquidator takes over responsibility for the company's affairs, and employees' claims for unpaid wages, holiday pay, and redundancy pay become preferential debts. The liquidator will assist employees in claiming these amounts from the National Insurance Fund (via the Redundancy Payments Service). Employees may also be entitled to statutory notice pay. Our team in Romiley ensures that all employee rights are protected and that claims are processed promptly, minimising stress during a difficult period.
How long does the liquidation process take in Romiley?
The duration of a liquidation in Romiley depends on the complexity of the case. A Creditors Voluntary Liquidation (CVL) typically takes between 6 to 12 months to complete, but this can extend if there are complex asset realisations, legal disputes, or if the liquidator needs to investigate director conduct. A Members Voluntary Liquidation (MVL) for a solvent company can be completed in as little as 3 to 6 months, subject to the distribution of assets and compliance with tax requirements. Our practitioners work efficiently to close your company as quickly as possible, providing regular updates throughout the process.
What are the signs that my company in Romiley may need liquidation?
Key signs that your company may be insolvent include persistent cash flow problems, inability to pay suppliers or employees on time, mounting HMRC debts, statutory demands, county court judgments, or winding-up petitions. If you are borrowing to pay day-to-day expenses or your liabilities exceed your assets, it is crucial to seek professional advice early. Trading while insolvent can lead to personal liability for wrongful trading. Contact Company Liquidators in Romiley for a free, confidential review of your financial position. We can help you assess whether liquidation, restructuring, or an alternative solution is the best course of action.
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