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
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
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
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
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
BARNES MAYER LIMITED
Barnes Mayer Ltd is an independent, family run business providing accounting and taxation services throughout Maidenhead, Berkshire and Buckinghamshir...See More
The Bean Counters Accountants LLP
Established in 2011, The Bean Counters Accountants is a growing accounting firm in Maidenhead which specializes in cloud accounting and bookkeeping, p...See More
DIrect Assist accountants Ltd
Direct Assist accountants Ltd is one of the fastest growing chartered accountants firm serving businesses and individuals from different industries fr...See More
TITUS ACCOUNTS LTD
I know that telling you the truth won’t make me very popular with other accountants. If I'm honest I never liked them much anyway. Chances are (if yo...See More
EXPEDIENT ACCOUNTANCY
Expedient Accountancy Limited provides a wide range of expert accounting services. We are a partnership of 3 Chartered Certified Accountants with more...See More
Hayes Accountants
Hayes Accountancy is your local accountancy service provider & part of the group BNW Accountants & Tax Consultants. We offer high-quality accounting a...See More
City Tax London
City Tax London provides unparalleled personalized accounting services and th...
MINT FORMATIONS LTD
We have over 100 years of combined industry experience, having worked with hundreds of startups and small businesses in every industry imaginable. We ...See More
Yourtaxhelp
Our motto is “Accountants and Tax Advisers with simple technology”. We will not stop being innovative or using cutting edge technology to help you out...See More
Numerii Ltd
Informed financial support for your business. We are a small, friendly and highly motivated team who offer a professional and efficient service to our...See More
Taxeasy Ltd
TaxEasy Ltd is an experienced and proactive firm of certified accountants and bookkeepers offering high quality accounting services to clients through...See More
Financial Partnership London
The Financial Partnership LLP, London, is a young, dynamic and innovative firm of Accountants & Business Advisors who can help improve the performance...See More
MAKESWORTH LIMITED
Makesworth
Accountants is an award-winning accountancy practice of Chartered
Certified Accountants tax and business advisors. We a...
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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
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 directors cannot pay debts as they fall due. It is initiated by shareholders and overseen by a licensed insolvency practitioner. An MVL is for solvent companies where shareholders wish to close the business and distribute assets tax-efficiently. In an MVL, the company must be able to pay all its debts in full within 12 months, and the liquidator distributes surplus funds to shareholders with potential capital gains tax advantages.
How much does company liquidation cost in Wokingham?
Costs vary depending on the complexity of the company's affairs, the number of creditors, and the chosen procedure. For a straightforward CVL, fees typically range from £3,000 to £6,000 plus VAT and disbursements. MVL fees are often lower, starting around £1,500 to £2,500. We provide fixed-fee quotes after an initial free review, so you know the costs upfront with no hidden charges.
Can I continue trading if my company is in financial difficulty?
Yes, but you have a legal duty to act in the best interests of creditors. If you continue trading while insolvent and incur further debts without a reasonable prospect of recovery, you risk personal liability for wrongful trading. It is advisable to seek professional advice early. A licensed liquidator can assess your position and help you decide whether to trade out or cease operations to protect yourself.
What happens to employees when a company goes into liquidation?
When a company enters liquidation, employees are automatically dismissed from the date of the liquidation order. The liquidator becomes responsible for settling employee claims, including unpaid wages, holiday pay, and redundancy entitlements. These claims may be paid from the National Insurance Fund (via the Redundancy Payments Service) if company assets are insufficient. The liquidator will provide necessary forms and guidance to affected staff.
Will I be personally liable for company debts after liquidation?
In most cases, no. As a director of a limited company, you are generally not personally liable for company debts unless you have given personal guarantees, engaged in fraudulent or wrongful trading, or misused company funds. A successful liquidation will write off any remaining unsecured debts, but personal guarantees mean you may still owe creditors. Our advisors will review your guarantees and exposure before you proceed.
How long does the liquidation process take in Wokingham?
A CVL typically takes between 6 to 12 months to complete, depending on asset realisation and creditor claims. An MVL can be quicker, often 3 to 6 months if the company's affairs are straightforward. The liquidator must file final accounts and a return to Companies House, which can take additional time. We aim to streamline the process, but statutory timelines and creditor deadlines must be respected.
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