It’s a common misconception that a Licensed Insolvency Practitioner can only help when a company is insolvent.They can also be called upon for advice and assistance with closing a solvent business. If you are ready to exit your business, have you considered that a Members Voluntary Liquidation (MVL) may be a suitable exit strategy for…
Category: Insolvency Practitioners
A Guide to Members Voluntary Liquidation
A Members Voluntary Liquidation (MVL) is a process in which a solvent limited company can be liquidated in order to distribute the accumulated profits to the shareholders of the company as capital rather than income, incurring preferential tax rates as a result. Let’s look at Members Voluntary Liquidation in more detail. This a formal process…
Tips to Follow for Buying a UK Company In Administration
Of the insolvency processes available for a trading business, administration is the most common. When a company goes into administration, it can still continue to trade legally whilst an appointed administrator (licensed insolvency practitioner) works to rescue the company that has become insolvent. In some cases, the best cause of action is for the administrator…
What is Dissolution and Is It Right For My Company?
If you’re wondering how to close a company and you’re not sure where to start, you’re not alone. Shutting up shop can be a complex process that confuses the most savvy of business owners. Whether you’re no longer able to run your company or have fallen on hard times since the pandemic, there are many reasons…
What is an Insolvency Practitioner?
An Insolvency Practitioner, often referred to as an IP, is a financial professional who is licensed to act on behalf of businesses and individuals when they are experiencing financial difficulties and/or facing insolvency. The majority of the time, IPs are approached by companies who are in need of help in saving or closing their business,…