You have worked hard as a company director. Now it’s time to close the doors and shut down the business. How can you realise your capital in the most tax efficient manner possible? In this case a solvent liquidation which is also known as a members' voluntary liquidation ("MVL") could be the ideal next step.
The process of an MVL is relatively simple and requires the support of a licensed insolvency practitioner. They work with your company, ascertaining the support of all shareholders, producing a certificate of solvency and ensuring that all creditors are paid in full. Once this process is complete you can access the remaining capital in the company.
Over our many years of business working with companies to complete MVLs has been one of our main services. Hence we have a long and proven track record of helping companies like yours through this process with the minimum of effort or difficulty. Our experts know how to handle all the legal and accounting requirements and are committed to achieving a fast and professional result.
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.
If you would like to know more about your options or to discuss your administration order please contact our Corby offices where you’ll be able to meet with one of our senior advisors.
In a simple 1-2 hour appointment we’ll discuss all your options leaving you in possession of the facts necessary to make the best choice.