Phoenix Company Advice in Swansea

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

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

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

What Is a Phoenix Company in Swansea?

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

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

Is It Legal to Start a Phoenix Company in Swansea?

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

What Are the Legal Restrictions in Swansea?

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

How Can I Reuse the Company Name Legally in Swansea?

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

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

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

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

Can I Keep My Staff and Clients in Swansea?

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

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

Will Creditors Be Notified in Swansea?

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 Swansea.

This ensures transparency and protects creditors from deception in Swansea.

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

The assets in Swansea 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 Swansea.

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

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

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

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

The typical process in Swansea includes:

1. Entering a formal liquidation (CVL) in Swansea

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

3. Setting up a new company in Swansea

4. Transferring staff and operations in Swansea

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

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

Does HMRC Allow Phoenix Companies in Swansea?

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

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

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

If your company was forcibly wound up in Swansea 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 Swansea.

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

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

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

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

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

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

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

Get Expert Phoenix Company Advice Today in Swansea

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

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

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

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