Phoenix Company Advice in Herefordshire

At Fast Insolvency, we provide clear, compliant guidance on forming a phoenix company in Herefordshire, 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 Herefordshire.

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

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

What Is a Phoenix Company in Herefordshire?

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

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

Is It Legal to Start a Phoenix Company in Herefordshire?

Yes, forming a phoenix company is legal in the UK in Herefordshire, 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 Herefordshire.

What Are the Legal Restrictions in Herefordshire?

Under Section 216 of the Insolvency Act 1986 in Herefordshire, 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 Herefordshire for the new company’s debts and even criminal penalties.

How Can I Reuse the Company Name Legally in Herefordshire?

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

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

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

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

Can I Keep My Staff and Clients in Herefordshire?

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

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

Will Creditors Be Notified in Herefordshire?

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 Herefordshire.

This ensures transparency and protects creditors from deception in Herefordshire.

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

The assets in Herefordshire 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 Herefordshire.

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

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

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

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

The typical process in Herefordshire includes:

1. Entering a formal liquidation (CVL) in Herefordshire

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

3. Setting up a new company in Herefordshire

4. Transferring staff and operations in Herefordshire

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

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

Does HMRC Allow Phoenix Companies in Herefordshire?

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

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

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

If your company was forcibly wound up in Herefordshire 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 Herefordshire.

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

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

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

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

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

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

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

Get Expert Phoenix Company Advice Today in Herefordshire

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

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

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

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