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
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
Frequently asked questions
What are the different types of company liquidation available in Wiltshire?
There are two main types: Creditors Voluntary Liquidation (CVL) for insolvent companies where directors initiate the process, and Members Voluntary Liquidation (MVL) for solvent companies where shareholders wish to close the business and distribute assets tax-efficiently. Compulsory liquidation is court-ordered, usually following a winding-up petition from creditors.
How much does a company liquidation cost in Wiltshire?
Costs vary depending on complexity, but typical CVL fees range from £3,000 to £6,000 plus VAT and disbursements. Many liquidators offer fixed-fee packages with no hidden charges. For MVL, fees are often lower, starting around £2,500. Always request a detailed quote before engaging a liquidator.
How long does the liquidation process take in Wiltshire?
A CVL usually takes 6 to 12 months to complete, but the initial appointment can happen within 2 to 4 weeks of your decision. MVLs are often faster, sometimes completed in 3 to 6 months, depending on asset realisation and creditor claims. Your liquidator will provide a timeline after reviewing your company's situation.
What happens to employees when a Wiltshire company goes into liquidation?
Employees are made redundant on the date of liquidation. They can claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund via the Redundancy Payments Service. The liquidator provides each employee with a claim form and guidance. Directors who are also employees may have limited claims.
Can a director avoid personal liability in a Wiltshire liquidation?
Directors can avoid personal liability if they have acted in good faith, kept proper records, and did not trade wrongfully or fraudulently. However, personal guarantees on business loans or leases remain enforceable. The liquidator will investigate director conduct; if wrongful trading is found, they may seek a contribution from directors personally.
What is the difference between liquidation and administration in Wiltshire?
Liquidation ends the company's existence, selling assets to pay creditors. Administration aims to rescue the company as a going concern or achieve a better result for creditors than immediate liquidation. Administrators are appointed to manage the company while a restructuring or sale is attempted. Your insolvency practitioner will advise which route is best for your circumstances.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.