ACCOTAX - Accountants & Tax Consultants
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Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
Woody's Payroll & Bookkeeping Services
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Purnells - Licensed Insolvency Practitioners
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MARLIS BOOKKEEPING & ACCOUNTANCY
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Williamslester Brilliant Accounting Services
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Kings Oak Accountancy
Accountants based in Bristol, Bath & Somerset providing accounting and tax services to small and medium size owner-managed businesses. Our services in...See More
KINGS OAK ACCOUNTANCY (SOMERSET) LTD
We are a small firm of Accountants based in Somerset. Michael is a fellow of the Chartered Institute of Management Accounting with over 30 years expe...See More
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HUBBLE ACCOUNTANCY LTD
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
Financial Claims Consultants
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TKI Bookkeeping & Accounts
Hello and welcome to my site, I am qualified by the The Institute of Certified Bookkeepers and have attained highest level qualification, Level 4 Dipl...See More
SG CONTRACTOR ACCOUNTING LIMITED
SG Accounting was established in 1995 to service the accountancy and taxation needs of professional contractors and freelancers. We are based in Winc...See More
Modus Accountants Limited
Whether you are looking for advice, inspiration, accountancy services or all three, our integrated services will provide as much or as little su...See More
DEAD SIMPLE ACCOUNTING LTD
Dead Simple Accounting is an expert accounting firm based in Reading, Berkshire. We’ve been supporting the local business community in Reading with a ...See More
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R Albert Accountancy Ltd
We are an AAT Licensed accountancy practice providing a professional and friendly service. A new accountancy practice offering fantastic one to one s...See More
Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More
Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...See More
QUENTELA ACCOUNTING LIMITED
Quentela Accounting is a family run accountancy practise based in Wokingham, Berkshire. We are a small business but with an emphasis on BIG commitment...See More
ADD- WORTH ACCOUNTANCY LTD
Helping business owners make sense of their numbers. 30+ years of progressive finance and accounting experience in various industries. Offering expert...See More
Frequently asked questions
What is the role of a company liquidator in Saltash?
A licensed company liquidator in Saltash takes control of an insolvent company to protect creditor interests. Their role involves realising company assets, investigating the reasons for insolvency, settling valid creditor claims in the correct statutory order, and ultimately dissolving the company. They also have a duty to report on director conduct to the Insolvency Service.
How much does a Creditors Voluntary Liquidation (CVL) cost in Saltash?
The cost of a CVL in Saltash varies based on the complexity of the case and the size of the company's asset base. Typically, fees are either fixed or calculated as a percentage of asset realisations. The liquidator's fees are paid from the company's assets, not directly from the directors' personal funds, provided there are assets available. A free consultation will provide a specific quote.
Can a company in Saltash be liquidated if it has no assets?
Yes, it is possible to liquidate an insolvent company with no assets, often referred to as a 'no-asset liquidation'. In this scenario, the directors may need to fund the liquidation fees personally or rely on a pre-pack arrangement. We can advise on alternatives like a Members' Voluntary Liquidation (MVL) if the company is solvent, or a Creditors' Voluntary Liquidation (CVL) if insolvent, even with minimal assets.
What is the difference between a CVL and an MVL in Saltash?
A Creditors' Voluntary Liquidation (CVL) is used for insolvent companies where liabilities exceed assets. A Members' Voluntary Liquidation (MVL) is used for solvent companies, often for tax planning purposes when extracting profits. In an MVL, directors make a statutory declaration of solvency, and the process is quicker and less complex. Our Saltash team can advise which route is appropriate for your business.
What are the legal duties of directors when a company is insolvent in Saltash?
When a company becomes insolvent in Saltash, directors have a legal duty to act in the best interests of creditors, not just shareholders. This includes avoiding wrongful trading (continuing to trade while knowing the company cannot avoid insolvency), preserving assets, and keeping proper accounting records. Failure to comply can lead to personal liability for company debts or disqualification as a director.
Will I be personally liable for company debts after liquidation in Saltash?
Generally, directors are not personally liable for company debts if they have acted properly and not given personal guarantees. However, personal liability can arise if there is evidence of fraudulent or wrongful trading, or if directors have misused the company's assets. Our liquidators in Saltash will review your conduct and provide advice on any potential risks during the initial consultation.
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