ACCOTAX - Accountants & Tax Consultants
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MRC Accounting Services
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R Albert Accountancy Ltd
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AMSTOR ACCOUNTANTS LIMITED
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Raven Solution
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
Naseems Accountants
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HHR ACCOUNTANCY LTD
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BROOKSON LIMITED
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Pharmatax
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Athena Bookkeeping Services
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MJF ACCOUNTANCY LIMITED
Frequently asked questions
What is the difference between a CVL and an MVL for a company in Sutton?
A Creditors' Voluntary Liquidation (CVL) is used when a company is insolvent, meaning it cannot pay its debts as they fall due. An MVL (Members' Voluntary Liquidation) is for solvent companies where directors wish to close the business, often for retirement or restructuring. In an MVL, a statutory declaration of solvency must be made, and creditors are paid in full.
How much do company liquidators in Sutton charge for a CVL?
Fees for a CVL in Sutton typically range from £4,000 to £8,000 plus VAT, depending on the complexity of the case, the number of assets, and the level of creditor involvement. Our fees are fixed and agreed upfront, with no hidden charges. We also offer payment plans for directors in some circumstances.
Can I continue to trade after my company enters liquidation in Sutton?
No. Once a winding-up order is made or a CVL is approved, the liquidator takes control of the company's affairs. You cannot continue to trade, sign contracts, or use company bank accounts. However, the liquidator may allow trading for a short period to complete contracts if it benefits creditors.
What happens to employees when a company in Sutton goes into liquidation?
Employees are automatically dismissed when a company enters liquidation. The liquidator will provide them with a claim form (RP1) to apply for statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund. The liquidator also prioritises employee claims in the distribution of assets.
Will I be personally liable for company debts if I choose liquidation in Sutton?
In most cases, no. Directors are not personally liable for company debts if they have acted in good faith and not engaged in wrongful trading or fraudulent activity. However, if you have given personal guarantees or taken loans from the company, you may be liable. Our liquidators will review your position and advise you on any risks.
How long does a company liquidation take in Sutton?
A CVL typically takes 6 to 12 months to complete, depending on the complexity of asset realisation and creditor claims. An MVL can be faster, often completed in 3 to 6 months. The process involves filing final accounts, distributing assets, and applying for dissolution at Companies House.
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