Business services
Do you need a solvent liquidation?
Perhaps you are retiring and have no one to run the business effectively or you may be a shareholder looking to realise your assets. Regardless of the reason, if you need to withdraw your cash tax efficiently and distribute less than £25,000 an application to strike off might be the answer. If you are distributing more, a solvent liquidation might meet your needs.
This process known as a members’ voluntary liquidation (or MVL) allows you to distribute assets from your company either in cash or in specie. However, there are a number of legal and accounting requirements that you need to meet before you receive your money.
We help you understand these requirements. Thanks to our years of experience and knowledge working on hundreds of MVLs we not only assess your suitability for an MVL but help you at every stage of the process of liquidating your company.
How can we help you?
- Free impartial business advice – let us take you through all the options available to get the best outcome. Get in contact with our expert team.
- Producing accurate accounts – our expert accountants help check and verify the financial records Meeting legal requirements – ranging from collecting the book debts to selling the business and assets through to de-registering with HMRC.
- Sworn Declaration of Solvency – to implement an MVL your company must be solvent and must produce this declaration as proof of this.
- Helping you understand the law – in April 2016 the rules concerning the tax breaks offered by MVLs were revised. We can help you understand how the tax rules work. of your company to ensure that it is ready for the MVL to proceed.
Director
Colchester office contact details:
- 01206 934950
- 07411061646
- garyrupping@mw-w.com
- West Business Centre, Hawkins Road, Colchester, CO2 5JX
Ipswich office contact details:
- 01473 384925
- St Vincent House, 1 Cutler Street, Ipswich, IP1 1UQ
Understand your financial options
Check the health of your business with our free business health check tool.
Get an indication as to whether your company has what it needs to survive.
Includes:
-Company health assessment
-Types of liquidation available
-Options & next steps
*All information provided is completely confidential and will not be shared with a third party
Free advice line for distressed company directors > 08003317417
Your next step
If you are thinking of going through a solvent liquidation contact our expert advisors to find out exactly what is required. With a proven record of helping hundreds of directors and operating to the highest professional standards, we are the sensible and safe choice.
Many directors understandably have concerns about insolvency costs and how fees are paid. In most cases, insolvency practitioner fees are paid from company assets rather than by the director personally. Further details on how fees are calculated, approved and paid can be found in our guide to charge-out rates and insolvency fees.
How can we help - Book a free 1-2-1
If your company is struggling with unmanageable debts, decreased cashflow or concerns about about your company’s future, we can assess your situation and provide you with tailored solutions and options.
During your free initial advice meeting, we will discover a true picture of your company’s financial situation
and offer practical and expert guidance on your next steps.
Initial meetings can be held at our office or your premises and are completely confidential.
There is no charge for this meeting – charges only apply if and when terms of engagement have been agreed.
Related services
BUSINESS RESCUE & INSOLVENCY SPECIALISTS
Download your free Directors' guide
This free, easy-to-read guide is designed to help directors whose company is in financial distress. It will assist directors to navigate around insolvency issues and avoid potential pitfalls, split over ten sections this guide walks you through the matters in a logical order you are
likely to need to consider.
Latest news and insights
Leighton Buzzard flight simulator company to close
A Leighton Buzzard based flight simulator company is being forced to cease trading at the end of the month due to sustained financial losses. Fly A Flight, which is based
Family businesses in the South East: navigating financial pressure and protecting your future
Family-run firms form the backbone of the UK economy, accounting for around 93% of all private sector businesses. These enterprises represent more than commercial ventures, as they reinvest profits back
What is company liquidation – and why does it happen?
When a company reaches the end of the road, liquidation may be the next step. But what does that actually involve? And why do businesses choose, or get forced, to