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
Clarity Accountants
We work closely with our clients and act for a broad range of business and personal clients. Apart from the more general accountancy services we can a...See More
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...See More
GORILLA ACCOUNTING LIMITED
orilla Accounting was born after a group of specialist accountants with decades of experience amongst them, decided that accounting shouldn’t be a lab...See More
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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Norbury Bookkeeping Services
We offer a complete bookkeeping and computerized payroll service throughout Cheshire and South Manchester and are able to offer support for all financ...See More
Athena Bookkeeping Services
Athena Accounting and Bookkeeping Services. ?Let us take good care of your finances giving you more time to focus on the day to day running of your bu...See More
PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...See More
Sambhav Management Limited
Since 2012, we’ve offered clients the tools, resources and guidance necessary for all their accounting needs. Clients receive the personalized attenti...See More
BROOKSON LIMITED
Why Brookson? There are plenty of reasons. We’re specialists at dealing with self-employed finances, and have been doing this for over 20 years, so we...See More
ACCOUNTS 2U LIMITED
Our director, Howard Turner MAAT ATT, qualified as an accounting and taxation technician in 1995 after training with chartered accountants in Cheshire...See More
MGM & CO. Chartered Certified Accountants
If you are looking for professional accountants offering a full range of accountancy and tax services to clients from across the UK, you have come to ...See More
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
Holdsworth Accountancy
We are a team of experienced, qualified accountants and bookkeepers providing professional services to individuals and businesses within Bradford and ...See More
Mind Your Assets Accounts
Mind Your Assets Accounts is based in Sheffield, South Yorkshire, with offices also in Manchester and London. We have over 20 years accountancy expe...See More
Pepperhill Associates
Xero Certified Adviser - Remote service taking care of all your bookkeeping needs. Providing a professional, confidential, flexible and reliable bookk...See More
Accounting 4 Ltd
Registered practice offering accountancy services from Bookkeeping, Payroll, Vat, Self Assessment, Small Limited Company accounts etc Qualified to AAT...See More
LLOYDS ACCOUNTANTS LTD
We offer accounts, taxation and business advisory and support services to a wide range of businesses and individuals, nationwide. We continue to build...See More
Frequently asked questions
What is a Creditors Voluntary Liquidation (CVL) in Taunton?
A Creditors Voluntary Liquidation (CVL) is a formal insolvency process for a company that cannot pay its debts. In Taunton, a licensed insolvency practitioner is appointed to wind up the company's affairs, sell its assets, and distribute the proceeds to creditors. The process is initiated by the directors, who must pass a resolution and convene a creditors' meeting. It is a common route for solvent or insolvent companies to close down legally, avoiding wrongful trading claims and providing a structured end to the business.
How much does a company liquidation cost in Taunton?
The cost of a company liquidation in Taunton varies depending on the complexity of the case, the size of the company, and the number of creditors. Typically, fees range from £4,000 to £8,000 plus VAT, but this can be higher for larger or more complicated liquidations. The fees are paid from the company's assets before any distributions to creditors. It is essential to obtain a fixed-fee quote from a licensed insolvency practitioner to avoid unexpected costs.
Can I liquidate a company with no assets in Taunton?
Yes, you can liquidate a company with no assets, but the process may differ. If there are no assets to cover the liquidation costs, directors may need to consider a Creditors Voluntary Liquidation funded by a third party, such as a director or shareholder, or alternative options like a strike-off from the Companies House register. However, a strike-off is not suitable if the company has debts, as it does not formally release directors from liabilities. A licensed insolvency practitioner can advise on the best course of action.
What are the legal duties of directors during liquidation in Taunton?
During liquidation in Taunton, directors have several legal duties. They must cooperate fully with the liquidator, provide all relevant financial records and information, and refrain from concealing assets or transferring them unfairly. Directors must also avoid wrongful trading, which means continuing to trade when they know the company cannot avoid insolvency. Failure to comply can lead to personal liability, disqualification, or even criminal prosecution. Seeking professional advice early helps you meet these duties correctly.
How long does a company liquidation take in Taunton?
The duration of a company liquidation in Taunton typically ranges from 6 to 12 months for a straightforward Creditors Voluntary Liquidation. However, complex cases involving asset recovery, legal disputes, or incomplete records may take longer. The liquidator must file final accounts with Companies House and hold a final meeting of creditors before the company is dissolved. Your appointed insolvency practitioner will provide a realistic timeline based on your specific situation.
What happens to employees when a company is liquidated in Taunton?
When a company is liquidated in Taunton, all employees are automatically made redundant from the date of liquidation. They may be entitled to claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund via the Redundancy Payments Service. The liquidator will provide each employee with the necessary forms (RP1, RP2, etc.) to make these claims. It is crucial for employees to act promptly to ensure they receive their entitlements.
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