
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

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
Frequently asked questions
What is the difference between a Creditors' Voluntary Liquidation (CVL) and a Members' Voluntary Liquidation (MVL)?
A CVL is used for insolvent companies where the directors believe the business cannot pay its debts. It is initiated by shareholders but controlled by creditors, and it protects the company from further legal action. An MVL is for solvent companies that can pay all debts in full within 12 months. It allows for tax-efficient distribution of surplus assets to shareholders. Our liquidators will assess your financial position to recommend the correct procedure.
How much does a company liquidation cost in South West London?
Costs vary based on the complexity of the company's affairs, number of creditors, asset values, and the chosen procedure. For a straightforward CVL, fees typically range from £3,000 to £6,000 plus VAT, while an MVL may cost between £2,500 and £5,000. We provide fixed-fee quotes before any work begins, ensuring no hidden charges. Always confirm the fee structure and what it includes before appointing a liquidator.
Can a director be held personally liable for company debts during liquidation?
Generally, no, as limited liability protects directors from company debts. However, personal liability can arise if you have given personal guarantees, engaged in wrongful trading, or acted fraudulently. Our liquidators will review director conduct and advise on any potential risks early in the process. Taking professional advice before the company becomes insolvent can significantly reduce personal exposure.
What happens to employees when a company goes into liquidation?
In a CVL, all employees are automatically dismissed from the date the liquidation order is made. They become preferential creditors for unpaid wages, holiday pay, and redundancy entitlements. The liquidator will assist employees in claiming from the National Insurance Fund (RPS) for statutory payments. In an MVL, employees are usually made redundant before the liquidation, with all outstanding payments settled in full.
How long does the liquidation process take in South West London?
A CVL typically takes between 6 and 12 months to complete, depending on asset realisation and creditor claims. An MVL can be faster, often concluding within 3 to 6 months if the company has no complex assets. The liquidator must file final accounts with Companies House and hold a final meeting of creditors or members. Delays can occur if there are disputes, missing records, or ongoing investigations.
Can I continue to trade after appointing a liquidator?
No. Once a liquidator is appointed, they take control of the company and all director powers cease. You cannot trade, sell assets, or make payments without the liquidator's approval. However, the liquidator may continue trading briefly if it helps achieve a better outcome for creditors, such as completing existing contracts. Directors must cooperate fully and hand over all company books, records, and assets.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.
