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