ACCOTAX - Accountants & Tax Consultants
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Argents Chartered Accountants
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J C Accounting Ltd
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GO 2 Girl Limited
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Virtue Accountants Ltd
Bird & Co
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LeeP Accountants Registered in England & Wales
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Accounting4Actors
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Ashden Accountants
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John Lavender accounting ltd
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KUBED SOLUTIONS LIMITED
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AWS ACCOUNTANTS (LONDON) LLP
TAA CONSULTANTS LTD
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BLUEBIRD ACCOUNTANCY LIMITED
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MQPLUS LTD
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SARA COOPERS ACCOUNTANTS LTD
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Ahmed-Cliffords Ltd
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Frequently asked questions
What are the first steps to take when considering company liquidation in Thetford?
The first step is to seek professional advice from a licensed insolvency practitioner. We offer a free, confidential consultation to review your company's finances, outstanding debts, and assets. We will explain all options, including liquidation, and help you decide the best course of action. If liquidation is appropriate, we will guide you through the process, including preparing the necessary documents and convening a meeting of shareholders and creditors.
How much does a company liquidation cost in Thetford?
The cost of liquidation varies depending on the complexity of the case, the size of the company, and its assets. For a Creditors' Voluntary Liquidation (CVL), fees are typically paid from the company's assets, but if assets are insufficient, directors may need to fund the process. We provide a clear, fixed-fee quote after an initial assessment, with no hidden costs. Contact us for a tailored quote.
What is the difference between a CVL and an MVL?
A Creditors' Voluntary Liquidation (CVL) is used when a company is insolvent (unable to pay its debts). It is initiated by directors and involves a meeting of creditors. A Members' Voluntary Liquidation (MVL) is for solvent companies, where shareholders decide to wind up the company, often for tax efficiency or retirement. MVL requires a declaration of solvency from directors.
Can directors be personally liable for company debts in Thetford?
Directors are generally not personally liable for company debts if they have acted within the law. However, personal liability can arise if there has been wrongful trading, fraudulent trading, or if directors have given personal guarantees. Our liquidators will investigate and advise on any potential risks, helping you avoid personal exposure by acting early.
What happens to employees when a company goes into liquidation?
In a CVL, employees are made redundant once the company enters liquidation. They may be entitled to claim redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund. Our team will assist employees with their claims and ensure they understand their rights during this difficult time.
How long does the liquidation process take in Thetford?
The timeline depends on the type of liquidation. A CVL typically takes between 6 to 12 months to complete, depending on the complexity of realising assets and dealing with creditors. An MVL can be completed more quickly, often within 3 to 6 months. We provide a realistic timeline after assessing your company's specific situation.
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