Phoenix Company Advice in Surrey

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

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

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

What Is a Phoenix Company in Surrey?

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

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

Is It Legal to Start a Phoenix Company in Surrey?

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

What Are the Legal Restrictions in Surrey?

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

How Can I Reuse the Company Name Legally in Surrey?

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

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

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

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

Can I Keep My Staff and Clients in Surrey?

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

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

Will Creditors Be Notified in Surrey?

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 Surrey.

This ensures transparency and protects creditors from deception in Surrey.

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

The assets in Surrey 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 Surrey.

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

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

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

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

The typical process in Surrey includes:

1. Entering a formal liquidation (CVL) in Surrey

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

3. Setting up a new company in Surrey

4. Transferring staff and operations in Surrey

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

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

Does HMRC Allow Phoenix Companies in Surrey?

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

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

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

If your company was forcibly wound up in Surrey 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 Surrey.

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

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

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

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

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

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

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

Get Expert Phoenix Company Advice Today in Surrey

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

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

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

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