Are you at the stage where you are ready to wind up your company and are looking for the most tax efficient way to do this? If your cash reserves are in excess of £35,000, you could pay just 10% tax on your profits through a Members Voluntary Liquidation (MVL). In the current economic climate,…
Tag: Members Voluntary Liquidation
What are my Options for Liquidating my own Company?
If you are a director looking to liquidate your business, director-led liquidations take two key routes; Members Voluntary Liquidation (MVL) and Creditors Voluntary Liquidation (CVL). Although both result in the liquidation of a company, the causes and effects of an MVL and CVL are very different, so it is important for company directors to understand…
Is a Members Voluntary Liquidation the Right Exit Strategy for You?
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…
How to Liquidate Your Freelance Business
Are you a freelancer running your business through a limited company? At some point, every freelancer will want to close down their business, and in many cases, a freelance business will be closed with a liquidation process. Even if a freelancer trading as a limited company is successful and their business is making a profit,…
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…