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 are the main duties of a company liquidator in Tonbridge Kent?
A company liquidator in Tonbridge Kent is responsible for realising the company's assets, investigating its financial affairs, settling creditor claims, and distributing any remaining funds to shareholders. They must also ensure statutory compliance, report to creditors and the Insolvency Service, and act in the best interests of all parties. Our licensed liquidators handle all these duties with full transparency and accountability.
How much does a Creditors' Voluntary Liquidation (CVL) cost in Tonbridge Kent?
The cost of a CVL in Tonbridge Kent varies based on the complexity of the case, but we offer fixed-fee packages starting from around £4,000 plus VAT and disbursements. This fee covers all statutory work, including the creditors' meeting, asset realisation, and final distribution. We provide a detailed quote before any work begins, with no hidden charges.
Can I continue trading while my company is in liquidation in Tonbridge Kent?
No, once a company enters liquidation, the liquidator takes control and trading must cease immediately, unless the liquidator decides to continue trading temporarily to maximise asset value. As a director, you lose your powers to manage the company. Our team advises on the correct timing to stop trading to avoid personal liability.
What is the difference between a compulsory and voluntary liquidation in Tonbridge Kent?
A compulsory liquidation is ordered by a court, usually following a creditor's petition, while a voluntary liquidation is initiated by the company's shareholders. In Tonbridge Kent, voluntary liquidation (CVL) is more common for insolvent companies, as it allows directors to act proactively. Compulsory liquidation often involves additional costs and legal formalities.
Will I be personally liable for company debts after liquidation in Tonbridge Kent?
In most cases, directors are not personally liable for company debts if they have acted within the law. However, if wrongful trading, fraudulent trading, or breach of fiduciary duty is found, personal liability can arise. Our liquidators in Tonbridge Kent thoroughly review director conduct to ensure compliance and protect your position where possible.
How long does a company liquidation take in Tonbridge Kent?
A straightforward Creditors' Voluntary Liquidation in Tonbridge Kent typically takes between 6 to 12 months to complete, depending on the complexity of asset realisation and creditor claims. Our team works efficiently to minimise delays, providing regular updates throughout the process. Complex cases involving litigation or overseas assets may take longer.
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