Liquidations occur in every sector of business and it is important that it is handled with expertise and care.
William Carey, Liquidator has vast experience and has an impressive portfolio of successful liquidations on his record.
We also do referral work on Liquidations from our Colleagues in the Legal and accounting professions and have a great record with our colleagues of handling the liquidation process with care and diligence.
There are two main types of liquidations;
Creditors Voluntary Liquidation
This is when the directors realise the company is insolvent, they are obliged by the company’s Act to put the company into liquidation in a timely fashion.
We realise that this is a stressful time for all concerned but William Carey has over 35 years’ experience handling this process and we can ensure that the process is handled as smoothly as possible thus easing the stress in this traumatic time.
Members Voluntary Liquidation
This is when a solvent company winds up in an orderly fashion and the assets/cash left in the company are distributed to the shareholders.
This can be a tax-efficient way for shareholders to extract funds from a company on cessation of trade as a capital gain on shareholder’s funds will be subject to Capital Gains Tax. Where such funds were taken out as salary or dividend pre liquidation, these monies would be taxed at the shareholders marginal income tax rate.
We initially engaged with Carey & Associates some time ago to provide insolvency services to our clients. Willie and his team have been exceptionally prompt, helpful and knowledgeable in all matters to date. We have no hesitation in recommending their services.David Moroney, Moroney & Co., Accountants and Business Advisers, Killaloe, Co. Clare