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Abu Umar & Co.
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Coman And Co Ltd
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Cheap - Accountants
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London Accountants
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Fitzgeralds Accountants Limited
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Taxaccolega Chartered Accountants & Tax Advisers
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" Accountify – Chartered Certified Accountants"
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Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Cruse+Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Owadally & Kings Partnership
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APRC Accountants
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KAAB
BUSINESS ADVISORY-Would you like to see how i can help to improve your profit, your cashflow and the value of your business value?
We want you to i...See More
Earne
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Tax Cruncher
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Frequently asked questions
What is the difference between a CVL and an MVL in Streatham?
A Creditors Voluntary Liquidation (CVL) is used for insolvent companies where debts cannot be paid, while a Members Voluntary Liquidation (MVL) is for solvent companies wishing to close and distribute assets tax-efficiently. Our liquidators in Streatham will assess your financial position to recommend the correct procedure.
How much does it cost to appoint a company liquidator in Streatham?
Costs vary depending on the complexity of the liquidation, but our fees are competitive and agreed upfront. For a typical CVL, fees often range from £3,000 to £5,000 plus VAT, but we offer a free quote after reviewing your company's books. We provide transparent pricing with no hidden charges.
Can I keep trading while my company is in liquidation in Streatham?
Once a liquidator is appointed, directors lose control of the company. Trading must cease unless the liquidator continues trading temporarily to maximise asset value. We advise stopping all non-essential activities immediately to avoid personal liability for wrongful trading.
What are the legal obligations of directors during liquidation in Streatham?
Directors must cooperate fully with the liquidator, providing all company records, accounts, and explanations of transactions. They must not dispose of assets or prefer certain creditors. Failure to comply can result in personal liability, disqualification, or even criminal prosecution.
How long does a company liquidation take in Streatham?
A simple CVL can be completed in 6 to 12 months, while an MVL may be finalised in 3 to 6 months. The timeline depends on asset realisation and creditor claims. Our liquidators work efficiently to close your company as quickly as possible.
What happens to employees when a company goes into liquidation in Streatham?
Employees are made redundant automatically upon liquidation. They may claim statutory redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. The liquidator provides necessary documentation to support their claims.
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