If you want to get your money out of your business in the most tax efficient method and end your company then a Members' Voluntary Liquidation ("MVL") could be the best route for you. This process is also known as a solvent liquidation. It allows you to effectively realise all the assets of your business without the burden of income tax whilst paying off all the remaining shareholders and creditors. With the full consent of all voting parties this can be completed in as little as 14 working days.
A solvent liquidation must be overseen by an insolvency practitioner and McTear Williams & Wood has a proven track record of helping companies achieve the optimal outcome from this process having worked with clients ranging from a wide variation of different sectors.
If you are looking to realise less than £25,000 in capital it may be more appropriate to strike off your company rather than implementing an MVL. Get all the information you need with a solvent liquidation meeting at our Bury St Edmunds office.
What are the options available to you and what is the best way to proceed? Without expert advice it can be tough to understand your choices and select the best course of action. At McTear Williams & Wood we cover this in a short 1 to 2 hour free initial consultation at our offices close to Bury St Edmunds, helping you understand all the responsibilities and implications. Call us now on 0800 331 7417