Taxation of liquidating im dating much younger woman

Posted by / 05-Jan-2020 23:31

After every liquidation process the liquidator is required to investigate all actions taken by the directors while the company was trading insolvently.If it can be shown that the directors did not act in the best interests of creditors then they may be accused of wrongful trading.

In a compulsory liquidation the cost of issuing a winding up petition (roughly £1,490-£1,990) is covered by the creditor.If it can be shown that the directors used liquidation with the sole intention of deliberately not repaying creditors, they may be held personally liable for the company debts.Contact us to arrange a free consultation and find out how we can help you with the liquidation process.Liquidation is a formal insolvency procedure in which a company is brought to an end; all of its assets are liquidated and the proceeds from the sale of assets is used to repay creditors.There are two main types of liquidations for insolvent companies– compulsory liquidation and creditor’s voluntary liquidation (CVL).

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Furthermore, the liquidator is appointed by the Court or the creditor.