Phoenix Company Advice in Hertfordshire

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

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

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

What Is a Phoenix Company in Hertfordshire?

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

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

Is It Legal to Start a Phoenix Company in Hertfordshire?

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

What Are the Legal Restrictions in Hertfordshire?

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

How Can I Reuse the Company Name Legally in Hertfordshire?

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

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

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

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

Can I Keep My Staff and Clients in Hertfordshire?

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

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

Will Creditors Be Notified in Hertfordshire?

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 Hertfordshire.

This ensures transparency and protects creditors from deception in Hertfordshire.

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

The assets in Hertfordshire 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 Hertfordshire.

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

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

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

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

The typical process in Hertfordshire includes:

1. Entering a formal liquidation (CVL) in Hertfordshire

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

3. Setting up a new company in Hertfordshire

4. Transferring staff and operations in Hertfordshire

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

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

Does HMRC Allow Phoenix Companies in Hertfordshire?

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

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

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

If your company was forcibly wound up in Hertfordshire 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 Hertfordshire.

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

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

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

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

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

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

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

Get Expert Phoenix Company Advice Today in Hertfordshire

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

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

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

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