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.
EFJ CONSULTING LTD
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Cruse+Burke
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Owadally & Kings Partnership
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Cruse + Burke
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Taxaccolega Chartered Accountants & Tax Advisers
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AWS ACCOUNTANTS (LONDON) LLP
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SARA COOPERS ACCOUNTANTS LTD
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MONEYTREE FINANCIAL LTD
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Marden & Co Accountants Ltd
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Coman And Co Ltd
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TaxAssist Accountants
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MQPLUS LTD
MQplus LTD provides accurate, flexible and cost-effective managment accounting services for sole traders,partnerships and Limited Companies
Accounting Made Simple
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Southall Accountants
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Frequently asked questions
What is the difference between members' voluntary liquidation and creditors' voluntary liquidation in Rye?
Members' voluntary liquidation (MVL) is used for solvent companies where directors can declare solvency and the company pays its debts in full within 12 months. Creditors' voluntary liquidation (CVL) is for insolvent companies where the company cannot pay its debts, and creditors are involved in the process to oversee asset distribution.
How long does the liquidation process take for a company in Rye?
The timeline varies depending on the complexity of the company's affairs. A straightforward members' voluntary liquidation can often be completed within 6 to 9 months, while a creditors' voluntary liquidation may take longer due to creditor meetings, asset realisation, and investigations. Our liquidators provide a clear timeline after reviewing your specific case.
Can I continue trading while my company is being liquidated in Rye?
Once a liquidation order is made, directors lose control of the company, and trading must cease immediately except for actions required to preserve asset value or complete existing contracts with the liquidator's permission. Trading without authorisation can lead to personal liability for directors.
What are the costs involved in hiring a company liquidator in Rye?
Costs vary based on the size and complexity of the company, but our fees are typically calculated on a fixed fee basis or as a percentage of asset realisations. We provide a transparent quote before any work begins, and in many cases, the liquidator's fees are paid from company assets as a preferential expense.
Will I be personally liable for company debts after liquidation in Rye?
In most cases, directors are not personally liable for company debts if they have acted in good faith and complied with their duties. However, if there is evidence of wrongful trading, fraudulent activity, or personal guarantees, directors may face personal liability. Our liquidators will assess your situation and advise on any potential risks.
What happens to employees when a company is liquidated in Rye?
Employees are automatically dismissed upon liquidation. They may be entitled to claim redundancy pay, unpaid wages, holiday pay, and other statutory entitlements from the National Insurance Fund. The liquidator will provide employees with the necessary forms and guidance to make these claims.
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