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
MJF ACCOUNTANCY LIMITED
Oakes Accounting
Oakes Accounting specializes in providing tailor made accounting services, including bookkeeping, VAT and self assessment to small businesses.
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
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
C & B Accounting Solutions Ltd
All aspects of bookkeeping, payroll & accounting undertaken
J. Jervis Accounting Services LTD
THE FINANCIAL MANAGEMENT CENTRE UK LTD
Online firm
GE ACCOUNTANCY LTD
Specialist Motor Trade Accountant with over 20 years. Accountancy & Book Keeping Services offered including VAT Preparation & Submission, Self Assessm...See More
Holden Associates
Holden Associates are a family run business founded in 2002, we are located at V12, Merlin Park, a modern purpose-built office in Burscough, Lancashir...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
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
PAYLESS ACCOUNTING & OUTSOURCING LIMITED
We provide businesses with greater flexi...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
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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
Cheaper Accountant
We're the UK's leading low cost accountants. Simple & affordable fees with Company Accounts & Co. Tax Retu...See More
Harris Rosenberg Chartered Accountants
We help small-scale and early-stage businesses get to where ...
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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
Frequently asked questions
What is the difference between CVL and MVL in Trafford?
A Creditors Voluntary Liquidation (CVL) is used when a company is insolvent and cannot pay its debts. It is initiated by directors and involves a licensed insolvency practitioner who realises assets and distributes funds to creditors. A Members Voluntary Liquidation (MVL) is for solvent companies where directors wish to close the business formally, often for tax efficiency. In an MVL, a declaration of solvency is made, and creditors are paid in full before any distribution to shareholders.
How much does it cost to appoint a liquidator in Trafford?
The cost of liquidation in Trafford varies based on the complexity of the company, the number of assets, and the level of creditor involvement. For a CVL, fees are typically paid from company assets and can range from £3,000 to £7,000 plus VAT. MVL costs are often lower, starting around £1,500. We provide a fixed-fee quote after a free consultation, so you know exactly what to expect with no hidden charges.
Can I keep trading if my company is insolvent in Trafford?
If your company is insolvent, continuing to trade can lead to personal liability for wrongful trading. Directors have a legal duty to act in the best interests of creditors. Once you become aware of insolvency, you should seek professional advice immediately. In some cases, a short period of trading may be possible to complete a rescue plan or maximise asset value, but this must be carefully managed with the guidance of a licensed insolvency practitioner.
What happens to employees when a company goes into liquidation in Trafford?
When a company enters liquidation, employees are automatically dismissed from the date the liquidation order is made. The liquidator will assess claims for unpaid wages, holiday pay, and redundancy. Employees may be able to claim certain statutory payments from the National Insurance Fund, such as redundancy pay and arrears of wages, through the Redundancy Payments Service. The liquidator provides all necessary documentation to support these claims.
How long does the liquidation process take in Trafford?
A Creditors Voluntary Liquidation typically takes between 6 and 12 months to complete, depending on the complexity of the company's affairs, such as the sale of assets or disputes with creditors. An MVL can often be completed in 3 to 6 months. The process includes a meeting of creditors, asset realisation, and final distribution. Your liquidator will keep you informed of progress at each stage.
Are directors personally liable for company debts in Trafford?
Directors are generally not personally liable for company debts if they have acted within the law and not traded wrongfully. However, personal liability can arise if there has been fraudulent trading, wrongful trading, or if personal guarantees were given for business loans. A licensed insolvency practitioner will investigate director conduct and advise on any potential risks. Seeking early advice helps protect your position and limits exposure.
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