Phoenix Company Advice in Cambridgeshire

At Fast Insolvency, we provide clear, compliant guidance on forming a phoenix company in Cambridgeshire, a new business that rises from the closure of an insolvent company.

This route allows directors to start fresh, retain viable parts of the old business, and protect jobs, but strict rules apply under UK insolvency law in Cambridgeshire.

We protect directors from liability while helping you start fresh with a viable new business in Cambridgeshire.

Contact us today in Cambridgeshire for free advice on phoenix company formation and to avoid the legal risks of getting it wrong.

What Is a Phoenix Company in Cambridgeshire?

A phoenix company is a new business that is formed after an insolvent company has been liquidated in Cambridgeshire.

It often has the same directors, staff, and assets, but operates as a legally separate entity with a different name or structure in Cambridgeshire.

Is It Legal to Start a Phoenix Company in Cambridgeshire?

Yes, forming a phoenix company is legal in the UK in Cambridgeshire, as long as it follows the rules under the Insolvency Act 1986.

The process must be transparent, and directors must not trade while insolvent or breach restrictions on using the old company name in Cambridgeshire.

What Are the Legal Restrictions in Cambridgeshire?

Under Section 216 of the Insolvency Act 1986 in Cambridgeshire, directors of an insolvent company are prohibited from reusing the same or similar name for 5 years, unless they follow strict exemption procedures.

Breaching this rule can result in personal liability in Cambridgeshire for the new company’s debts and even criminal penalties.

How Can I Reuse the Company Name Legally in Cambridgeshire?

You can apply for a Section 216 exemption in Cambridgeshire if:

• You buy the old company’s assets from a licensed insolvency practitioner in Cambridgeshire

• You notify all creditors and file the correct forms with the court and Companies House within 28 days in Cambridgeshire

We can handle this entire process for you to ensure compliance in Cambridgeshire.

Can I Keep My Staff and Clients in Cambridgeshire?

A phoenix company in Cambridgeshire can often retain key contracts, client relationships, and employees from the old business.

Transferring staff must follow TUPE regulations in Cambridgeshire to protect employment rights.

Will Creditors Be Notified in Cambridgeshire?

All creditors of the liquidated company must be notified if the new company is using a similar name or operating in a similar way in Cambridgeshire.

This ensures transparency and protects creditors from deception in Cambridgeshire.

Can I Buy the Assets from the Old Company in Cambridgeshire?

The assets in Cambridgeshire including stock, equipment, or intellectual property, can be sold to the new company at fair market value by the liquidator.

You cannot transfer assets privately or below market value in Cambridgeshire.

What Are the Risks of Forming a Phoenix Company in Cambridgeshire?

If the rules are not followed correctly, you could be held personally liable for new company debts or be disqualified as a director in Cambridgeshire.

There may also be reputational damage in Cambridgeshire if the new company appears to evade the old one’s obligations.

What Is the Process for Creating a Phoenix Company in Cambridgeshire?

The typical process in Cambridgeshire includes:

1. Entering a formal liquidation (CVL) in Cambridgeshire

2. Valuing and selling the old company’s assets in Cambridgeshire

3. Setting up a new company in Cambridgeshire

4. Transferring staff and operations in Cambridgeshire

5. Filing all legal notices and exemption forms under Section 216 in Cambridgeshire

We manage this process end-to-end to ensure full compliance in Cambridgeshire.

Does HMRC Allow Phoenix Companies in Cambridgeshire?

HMRC permits in Cambridgeshire the formation of phoenix companies, but they monitor closely for misuse.

You must remain fully compliant in Cambridgeshire with tax obligations in the new business.

Can I Form a Phoenix Company After Compulsory Liquidation in Cambridgeshire?

If your company was forcibly wound up in Cambridgeshire through compulsory liquidation, you must still follow the same name reuse restrictions and apply for court permission.

In some cases, HMRC or other creditors may object in Cambridgeshire.

What If I Want to Use a Completely New Name in Cambridgeshire?

If the new company name is not the same or similar in Cambridgeshire, Section 216 restrictions do not apply.

However, you still need to ensure that no misleading links exist in Cambridgeshire between the old and new businesses.

How Much Does It Cost to Set Up a Phoenix Company in Cambridgeshire?

A CVL in Cambridgeshire costs from £3,000–£5,000 in Cambridgeshire, plus legal fees for name reuse applications if needed.

The cost in Cambridgeshire depends on whether you’re purchasing assets and the complexity of the liquidation.

We offer fixed-fee packages in Cambridgeshire that include full phoenix company advice and compliance.

Get Expert Phoenix Company Advice Today in Cambridgeshire

If you're closing an insolvent company in Cambridgeshire and want to continue trading, legal guidance is essential.

We offer low-cost, legally compliant phoenix company services in Cambridgeshire with expert oversight.

Contact Fast Insolvency now for free, confidential advice on forming a phoenix company safely and lawfully in Cambridgeshire.

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