There’s no simpler way to extract your capital from a business than a solvent liquidation. Also known as a members voluntary liquidation ("MVL") – this is one process that allows you to get to your money in the most tax efficient manner possible.
In essence an MVL is nothing more than a simple procedure implemented by a registered Insolvency Practitioner. All the voting parties in a company must agree that the solvent liquidation can proceed, a certificate of solvency is drafted and then finally all assets are liquidated and creditors are paid off in full.
Over our years of experience we have worked with many companies across various industries supporting them in successfully implementing MVLs. This has given us a huge amount of knowledge and expertise in both the legal and accounting responsibilities required to see your venture properly liquidated.
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. Alternatively striking off could be a better choice for funds less than this amount.
To get all the facts on your solvent liquidation at our Bournemouth office – where you can meet with one of our senior advisors to talk through all your options.
How else can we help? Other services we offer in your area: