Members Voluntary Liquidation (solvent)

This is a way of closing a company that is solvent, i.e. it has Assets and essentially no debts.

The directors can apply for entrepreneurs relief (which allows them to pay 10% tax on the funds that go to them rather than the standard rate of income and dividend tax). A licensed Insolvency Practitioner needs to be engaged and appointed to conduct the MVL and all accounts, corporation tax has to be up to date and paid so an accountant is needed in the process.Fees range from 1k-5k dependent on Insolvency Practitioner and these are paid from the assets of the company.

Members Voluntary Liquidation1

Things to be aware of:

> Speak to your accountant to see if you will be eligible for entrepreneurs relief. > Speed on how quickly it can be done will vary on each case and firm you appoint. >Ask your accountant to explore other alternative ways and tax implications so you can compare against an MVL.

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Or email us at

info@thedirectorsthelpline.org

Alternatively...

We're here to offer free impartial opinion and guidance on the best recovery options for you and your business – not your creditors...

Compulsory Liquidation 2

Things to be aware of:

> Speak to your accountant to see if you will be eligible for entrepreneurs relief. > Speed on how quickly it can be done will vary on each case and firm you appoint. >Ask your accountant to explore other alternative ways and tax implications so you can compare against an MVL.

The Directors Helpline prides itself on helping where we can, and sometimes another solution could be the best option

Whatever it may be The Directors Helpline affiliated companies are here to help

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A one stop platform that allows you to search, compare and choose the right professional or service for you.
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Cover all business funding from loans through to invoice and asset finance.
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