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
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
We are a small firm of Accountants based in Somerset. Michael is a fellow of the Chartered Institute of Management Accounting with over 30 years expe...See More
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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.
TKI Bookkeeping & Accounts
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Williamslester Brilliant Accounting Services
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Purnells - Licensed Insolvency Practitioners
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MARLIS BOOKKEEPING & ACCOUNTANCY
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Financial Claims Consultants
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Woody's Payroll & Bookkeeping Services
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SG CONTRACTOR ACCOUNTING LIMITED
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Bell Stanley Accountants
Welcome to Bell Stanley Accountants page.
Modus Accountants Limited
Whether you are looking for advice, inspiration, accountancy services or all three, our integrated services will provide as much or as little su...See More
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
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
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R Albert Accountancy Ltd
We are an AAT Licensed accountancy practice providing a professional and friendly service. A new accountancy practice offering fantastic one to one s...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
Frequently asked questions
What is a company liquidator and when is one needed in Wells?
A company liquidator is a licensed insolvency practitioner who is appointed to wind up a company's affairs. In Wells, a liquidator is needed when a company is insolvent and cannot pay its debts, or when a solvent company is being closed voluntarily. The liquidator takes control of the company's assets, sells them, and distributes the proceeds to creditors or shareholders according to legal priority.
How much does a company liquidation cost in Wells?
The cost of a company liquidation in Wells varies depending on the complexity of the case, the size of the company, and the number of creditors. Typically, fees for a Creditors Voluntary Liquidation (CVL) range from £4,000 to £8,000 plus VAT, but this can be higher for complex cases. We offer fixed-fee options for straightforward liquidations, and we always provide a clear, written quote before any work begins.
Can a company liquidator help if my Wells business is insolvent?
Yes, if your company in Wells is insolvent, a licensed liquidator can assist through a Creditors Voluntary Liquidation (CVL). This process is initiated by the directors and involves the orderly closure of the company, with the liquidator handling all creditor claims and asset realisation. A CVL protects directors from personal liability for company debts, provided there has been no wrongful trading or fraudulent activity.
What is the difference between a CVL and an MVL in Wells?
A Creditors Voluntary Liquidation (CVL) is used for insolvent companies where debts cannot be paid, and it protects creditors. A Members Voluntary Liquidation (MVL) is used for solvent companies where directors and shareholders wish to close the business, often for tax efficiency when extracting retained profits. In an MVL, the liquidator declares solvency and distributes assets to shareholders after all debts are paid.
How long does the liquidation process take in Wells?
The length of a company liquidation in Wells depends on the complexity of the case. A straightforward Creditors Voluntary Liquidation (CVL) can be completed in as little as 6 to 9 months, while a Members Voluntary Liquidation (MVL) may take 12 to 18 months due to tax clearance requirements. The liquidator must ensure all assets are realised and all claims are resolved before the company is dissolved.
What are the duties of a liquidator for a company in Wells?
A liquidator's duties include taking control of the company's assets, investigating its financial affairs, preparing a statement of affairs, notifying creditors, selling assets, and distributing funds. The liquidator must also report any wrongful trading or director misconduct to the Insolvency Service. In Wells, our liquidators act in the best interests of all creditors and ensure compliance with the Insolvency Act 1986.
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