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
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Kings Oak Accountancy
Accountants based in Bristol, Bath & Somerset providing accounting and tax services to small and medium size owner-managed businesses. Our services in...See More
KINGS OAK ACCOUNTANCY (SOMERSET) LTD
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HUBBLE ACCOUNTANCY LTD
This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.
Williamslester Brilliant Accounting Services
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MARLIS BOOKKEEPING & ACCOUNTANCY
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TKI Bookkeeping & Accounts
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Purnells - Licensed Insolvency Practitioners
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Woody's Payroll & Bookkeeping Services
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Bell Stanley Accountants
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Financial Claims Consultants
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SG CONTRACTOR ACCOUNTING LIMITED
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Modus Accountants Limited
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DEAD SIMPLE ACCOUNTING LTD
Dead Simple Accounting is an expert accounting firm based in Reading, Berkshire. We’ve been supporting the local business community in Reading with a ...See More
Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More
Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...See More
ADD- WORTH ACCOUNTANCY LTD
Helping business owners make sense of their numbers. 30+ years of progressive finance and accounting experience in various industries. Offering expert...See More
QUENTELA ACCOUNTING LIMITED
Quentela Accounting is a family run accountancy practise based in Wokingham, Berkshire. We are a small business but with an emphasis on BIG commitment...See More
Frequently asked questions
What is the difference between a Creditors Voluntary Liquidation (CVL) and a Members Voluntary Liquidation (MVL)?
A CVL is used for insolvent companies where the directors cannot pay debts as they fall due. It is initiated by the directors and involves a meeting of creditors to approve the liquidation. An MVL is for solvent companies where the directors wish to close the business, typically for retirement or restructuring. In an MVL, the company can distribute surplus assets to shareholders with tax advantages.
How much do company liquidation services cost in Watchfield?
The cost of liquidation varies depending on the complexity of the company's affairs, asset value, and the number of creditors. For a straightforward CVL, fees often range from £3,000 to £6,000 plus VAT, but we offer fixed-fee packages after a free initial assessment. We always provide a clear, written quote before any work begins, with no hidden charges.
Can I continue trading after I have appointed a liquidator?
No, once a liquidator is officially appointed, they take control of the company. The directors' powers cease, and the liquidator is responsible for realising assets, investigating affairs, and distributing funds to creditors. You cannot continue trading or making decisions about company assets without the liquidator's consent.
What are the legal duties of directors when a company is insolvent?
Directors have a duty to act in the best interests of creditors when insolvency is inevitable. This includes avoiding wrongful trading (continuing to trade while knowing the company cannot pay debts), keeping proper records, and not preferring certain creditors over others. Failing these duties can lead to personal liability, disqualification, or even criminal prosecution.
How long does a company liquidation process take in Watchfield?
A typical Creditors Voluntary Liquidation can be completed in 6 to 12 months, depending on the complexity of asset realisation and creditor claims. A solvent MVL can often be concluded in 3 to 6 months. The liquidator must file final accounts and a return to Companies House before the company is formally dissolved.
Will I be personally liable for company debts if I liquidate?
Generally, no. Limited liability protects directors from personal responsibility for company debts, provided they have not given personal guarantees, acted fraudulently, or engaged in wrongful trading. However, if you have given personal guarantees for loans or leases, creditors can pursue you personally. Our experts will review your situation to identify any risks.
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