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
Bird & Co
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LeeP Accountants Registered in England & Wales
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Matrix Accountancy Services
"Offering a friendly and professional service, I provide ongoing advice and support for every stage of your business journey. As an AAT Licensed Acc...See More
Matrix Accountancy Services Limited
Will Farmer FMAAT, AAT Licensed Accountant and Director of Matrix Accountancy Services Limited Hi I'm Will, In 2012 I...
Virtue Accountants Ltd
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Msi Accountancy Services
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Zak Partnership
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TAA CONSULTANTS LTD
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John Lavender accounting ltd
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Ashden Accountants
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FLEXIE ACCOUNTANTS LTD
Flexie Accountants is a reputable accounting firm, providing accounting, finance and tax services to sole traders, partnership and Limited companies. ...See More
Figures (UK) Accountancy Services
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ADD- WORTH ACCOUNTANCY LTD
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DOLAN ACCOUNTANCY LIMITED
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Pharmatax
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Frequently asked questions
What is the role of a company liquidator in Wellingborough?
A company liquidator in Wellingborough is a licensed insolvency practitioner who manages the closure of an insolvent company. Their role includes realising company assets, investigating the company's affairs, agreeing claims from creditors, and distributing any available funds to those owed money. They also ensure that statutory obligations are met and that the company is formally dissolved at Companies House.
How much does company liquidation cost in Wellingborough?
The cost of company liquidation in Wellingborough varies depending on the complexity of the case, the size of the company, and the number of assets and creditors. Most liquidators offer a fixed fee for straightforward CVLs, which typically ranges from £4,000 to £8,000 plus VAT and disbursements. Always request a detailed quote before engaging a liquidator to avoid hidden charges.
What is the difference between creditors voluntary liquidation and compulsory liquidation?
Creditors voluntary liquidation (CVL) is initiated by the company's directors when they believe the company is insolvent. The directors pass a resolution to wind up the company, and creditors appoint a liquidator. Compulsory liquidation is a court-ordered process, usually started by a creditor who petitions the court to wind up the company. CVL gives directors more control and is often less stressful.
Can a director be held personally liable for company debts in Wellingborough?
In most cases, directors are not personally liable for company debts because a limited company is a separate legal entity. However, personal liability can arise if a director has given a personal guarantee, traded wrongfully, or committed fraudulent activity. Using a licensed liquidator early can help you avoid actions that might lead to personal liability.
What happens to employees when a company goes into liquidation?
When a company enters liquidation, employees are automatically dismissed from the date the liquidation order is made. They may be entitled to claim redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund via the Insolvency Service. The liquidator will provide employees with the necessary forms and guidance to make these claims.
How long does the liquidation process take in Wellingborough?
The typical timeline for a creditors voluntary liquidation in Wellingborough is between 6 and 12 months. This period allows the liquidator to sell assets, investigate affairs, and deal with creditor claims. However, complex cases involving litigation or asset recovery can take longer. Once the process is complete, the company is formally dissolved.
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