All companies must come to an end. If you have finished your tenure as a director and want to close the business down whilst extracting your capital in a tax efficient manner then a solvent liquidation is the perfect next step to help you achieve this outcome.
More often than not a solvent liquidation is referred to as a members' voluntary liquidation ("MVL") where the business is closed, the capital is liquidated and all creditors and shareholders receive the full amount owed to them. With the full consent of all parties this process is usually smooth and friction free.
Over our years of operation McTear Williams & wood has helped several companies in a range of sectors and industries navigate their way through the process of an MVL. As a result we can provide you with the well-honed legal and accounting services you need to bring any such arrangement to a fast and professional outcome.
Why use us?
Experienced business consultation - are you aware of all the options for your business? If you are thinking of taking an MVL and closing down your company there could be other ways forward.
Professional accounting services - an MVL works best when all your books are in appropriate order - we can make sure that the planning covers all this pre-appointment.
Legal obligations - one of the key elements necessary to implement an MVL is a Sworn Declaration of Solvency. There are criminal sanctions if you get this wrong and McTear Williams & Wood can guide you accordingly.
An MVL works best when you have funds in excess of £25,000 in your company otherwise it’s more tax efficient to simply strike off your business at Companies House.
Get all the fact you need on a potential solvent liquidation at our Bedford offices where we can give you a free hour appointment to discuss the best course of action.
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