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
OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
Cruse+Burke
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Owadally & Kings Partnership
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Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Taxaccolega Chartered Accountants & Tax Advisers
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APRC Accountants
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EFJ CONSULTING LTD
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Marden & Co Accountants Ltd
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Coman And Co Ltd
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Abu Umar & Co.
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Central London Accountants
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Cheap - Accountants
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London Accountants
We have been providing a range of tailored accounting and taxation services to individuals as well as small and medium sized businesses. See More
Tax Cruncher
Tax Cruncher is an online accounting &Tax consulting firm serving clients nationwide. Our aim is to help SMEs to grow their business by crunching thei...See More
Accounting Made Simple
Accounting Made Simple is a tech-savvy accountancy and bookkeeping organization located in London which assists clients to ru...See More
MONEYTREE FINANCIAL LTD
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Frequently asked questions
What is the difference between a CVL and an MVL in Tunbridge Wells?
A Creditors' Voluntary Liquidation (CVL) is used when a company is insolvent and cannot pay its debts, while a Members' Voluntary Liquidation (MVL) is for solvent companies that wish to close voluntarily, often for tax efficiency. In a CVL, creditors control the process, whereas in an MVL, shareholders appoint the liquidator. Our Tunbridge Wells liquidators can assess your situation and recommend the correct procedure.
How much does company liquidation cost in Tunbridge Wells?
Costs vary depending on the complexity of the company, its assets, and the number of creditors. For a simple CVL, fees typically start from around £3,000 plus VAT, but we always provide a fixed-fee quote after a free consultation. We ensure no hidden charges and offer payment plans if needed, making liquidation affordable for small and medium businesses.
Can I keep trading if my company is insolvent in Tunbridge Wells?
If your company is insolvent, continuing to trade can lead to wrongful trading claims against directors. You must seek professional advice immediately. Our liquidators can help you decide whether to cease trading, negotiate with creditors, or enter a formal insolvency process. We act quickly to protect you from personal liability and legal consequences.
What happens to employees during a liquidation in Tunbridge Wells?
In a CVL, employees are made redundant immediately, and they can claim statutory redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. Our liquidators handle all employee notifications and provide necessary documentation. In an MVL, employees are transferred or made redundant according to the company's plan, and we ensure compliance with employment law.
How long does a company liquidation take in Tunbridge Wells?
A CVL typically takes 6 to 12 months to complete, depending on asset realisation and creditor claims. An MVL can be faster, often closing within 3 to 6 months. Our Tunbridge Wells liquidators work efficiently to expedite the process, but statutory timelines and legal requirements may extend the duration if complications arise.
Will I be personally liable for company debts after liquidation?
In most cases, directors are not personally liable for company debts if they have acted legally and responsibly. However, if there is evidence of fraudulent trading, wrongful trading, or breach of fiduciary duty, personal liability may arise. Our liquidators will review your conduct and advise on potential risks, helping you avoid personal claims from creditors.
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