If you want to end your company and extract your cash in a tax efficient manner, then a members' voluntary liquidation or MVL may be your best course of action. This process also known as a solvent liquidation allows you to cease trading and access funds without the burden of income tax.
An MVL is a simple procedure that must be overseen by a licensed insolvency practitioner. Once all the voting parties in a company have agreed that a solvent liquidation may proceed the practitioner works with the business to produce a formal declaration of solvency before liquidating all remaining assets.
McTear Williams & Wood has supported a number of companies in various sectors through the MVL process and as a result we can provide you with all the legal and accounting functions that you’ll need to ensure that your company is liquidated as quickly and economically as possible.
An MVL is only appropriate if you have funds of more than £25K in your company otherwise striking off your company may be a better option. Get all the facts you need from a meeting to discuss a potential solvent liquidation at our King’s Lynn offices.
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 near King's Lynn, helping you understand all the responsibilities and implications. Call us now on 0800 331 7417
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