ACCOTAX - Accountants & Tax Consultants
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TKI Bookkeeping & Accounts
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HUBBLE ACCOUNTANCY LTD
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Kings Oak Accountancy
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KINGS OAK ACCOUNTANCY (SOMERSET) LTD
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Williamslester Brilliant Accounting Services
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Modus Accountants Limited
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MARLIS BOOKKEEPING & ACCOUNTANCY
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R Albert Accountancy Ltd
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ADD- WORTH ACCOUNTANCY LTD
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Capital Accountancy - Accountants & Tax Advisors
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DEAD SIMPLE ACCOUNTING LTD
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SG CONTRACTOR ACCOUNTING LIMITED
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AMSTOR ACCOUNTANTS LIMITED
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Raven Solution
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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
MRC Accounting Services
Providing accounting services and solutions
Accounting etc. limited
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Frequently asked questions
What are the signs that my company in Wotton Under Edge needs liquidation?
Key signs include persistent cash flow problems, inability to pay suppliers or employees on time, statutory demands from creditors, winding-up petitions, or a balance sheet showing liabilities exceeding assets. If you are considering liquidation, it is critical to act early to avoid personal liability for wrongful trading. Our liquidators in Wotton Under Edge offer a free, confidential assessment to help you decide the best course of action.
What is the difference between a CVL and an MVL for companies in Wotton Under Edge?
A Creditors' Voluntary Liquidation (CVL) is used when a company is insolvent and cannot pay its debts. A Members' Voluntary Liquidation (MVL) is used when a company is solvent and directors wish to close it, often for tax efficiency. Both processes require a licensed insolvency practitioner. In Wotton Under Edge, we guide you through the correct procedure based on your company's financial position.
How long does a company liquidation take in Wotton Under Edge?
A typical Creditors' Voluntary Liquidation (CVL) takes between 6 and 12 months to complete, depending on the complexity of the company's affairs, such as asset realisation and creditor claims. An MVL can be completed more quickly, often within 3 to 6 months. Our Wotton Under Edge liquidators provide a clear timeline after an initial review of your company's books.
Will I be personally liable for company debts if I liquidate my company?
In most cases, no. Directors are not personally liable for company debts if they have acted within the law and have not traded wrongfully or fraudulently. However, if you have given personal guarantees to lenders or suppliers, those guarantees may be called upon. Our licensed liquidators in Wotton Under Edge will assess your situation and advise on any potential risks before you proceed.
Can I keep trading while my company is in liquidation?
Once a liquidation order is made (either CVL or compulsory), the liquidator takes control of the company, and directors lose their powers to trade. However, before liquidation, you may continue trading if it improves the position for creditors, but you must not incur new debts that you cannot pay. Our team in Wotton Under Edge can advise on the legal boundaries of pre-liquidation trading.
How much does it cost to hire a company liquidator in Wotton Under Edge?
Costs vary depending on the complexity of the liquidation, but we offer fixed-fee CVL services starting from around £4,000 plus VAT, with no hidden charges. The fee is typically paid from the company's assets, not from your personal funds. For MVLs, fees are agreed upfront and can be as low as £1,500. We provide a detailed quote after a free consultation at our Wotton Under Edge office.
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