Phoenix Company Advice in East Sussex
Get in touchAt Fast Insolvency, we provide clear, compliant guidance on forming a phoenix company in East Sussex, 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 East Sussex.
We protect directors from liability while helping you start fresh with a viable new business in East Sussex.
Contact us today in East Sussex for free advice on phoenix company formation and to avoid the legal risks of getting it wrong.
What Is a Phoenix Company in East Sussex?
A phoenix company is a new business that is formed after an insolvent company has been liquidated in East Sussex.
It often has the same directors, staff, and assets, but operates as a legally separate entity with a different name or structure in East Sussex.
Is It Legal to Start a Phoenix Company in East Sussex?
Yes, forming a phoenix company is legal in the UK in East Sussex, 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 East Sussex.
What Are the Legal Restrictions in East Sussex?
Under Section 216 of the Insolvency Act 1986 in East Sussex, 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 East Sussex for the new company’s debts and even criminal penalties.
How Can I Reuse the Company Name Legally in East Sussex?
You can apply for a Section 216 exemption in East Sussex if:
You buy the old company’s assets from a licensed insolvency practitioner in East Sussex
You notify all creditors and file the correct forms with the court and Companies House within 28 days in East Sussex
We can handle this entire process for you to ensure compliance in East Sussex.
Can I Keep My Staff and Clients in East Sussex?
A phoenix company in East Sussex can often retain key contracts, client relationships, and employees from the old business.
Transferring staff must follow TUPE regulations in East Sussex to protect employment rights.
Will Creditors Be Notified in East Sussex?
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 East Sussex.
This ensures transparency and protects creditors from deception in East Sussex.
Can I Buy the Assets from the Old Company in East Sussex?
The assets in East Sussex 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 East Sussex.
What Are the Risks of Forming a Phoenix Company in East Sussex?
If the rules are not followed correctly, you could be held personally liable for new company debts or be disqualified as a director in East Sussex.
There may also be reputational damage in East Sussex if the new company appears to evade the old one’s obligations.
What Is the Process for Creating a Phoenix Company in East Sussex?
The typical process in East Sussex includes:
Entering a formal liquidation (CVL) in East Sussex
Valuing and selling the old company’s assets in East Sussex
Setting up a new company in East Sussex
Transferring staff and operations in East Sussex
Filing all legal notices and exemption forms under Section 216 in East Sussex
We manage this process end-to-end to ensure full compliance in East Sussex.
Does HMRC Allow Phoenix Companies in East Sussex?
HMRC permits in East Sussex the formation of phoenix companies, but they monitor closely for misuse.
You must remain fully compliant in East Sussex with tax obligations in the new business.
Can I Form a Phoenix Company After Compulsory Liquidation in East Sussex?
If your company was forcibly wound up in East Sussex 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 East Sussex.
What If I Want to Use a Completely New Name in East Sussex?
If the new company name is not the same or similar in East Sussex, Section 216 restrictions do not apply.
However, you still need to ensure that no misleading links exist in East Sussex between the old and new businesses.
How Much Does It Cost to Set Up a Phoenix Company in East Sussex?
A CVL in East Sussex costs from £3,000–£5,000 in East Sussex, plus legal fees for name reuse applications if needed.
The cost in East Sussex depends on whether you’re purchasing assets and the complexity of the liquidation.
We offer fixed-fee packages in East Sussex that include full phoenix company advice and compliance.
Get Expert Phoenix Company Advice Today in East Sussex
If you're closing an insolvent company in East Sussex and want to continue trading, legal guidance is essential.
We offer low-cost, legally compliant phoenix company services in East Sussex with expert oversight.
Contact Fast Insolvency now for free, confidential advice on forming a phoenix company safely and lawfully in East Sussex.
We cover East Sussex