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: MVL
The Tax Implications of Closing a Limited Company
There are many reasons to close a limited company. For example, you may have decided to retire, or return to employed work as opposed to freelancing or contracting. Whatever your reasons for closing a limited company, there are different options to consider, and potential issues to be aware of. If your company is no longer…
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…
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…