Members Voluntary Liquidation (MVL) enables a company to be closed down, its assets realised, and creditors paid, with the residual funds being distributed as capital to its Shareholders in a tax-efficient manner.
Shareholders appoint a Liquidator, requiring 75% approval, and a Declaration of Solvency is prepared by the Directors stating that the company can pay its liabilities in full, plus statutory interest, within a 12-month period.
The tax implications of a MVL need to be fully understood prior to the solvent Liquidation being commenced to maximise the shareholders’ return.
Our expert Insolvency Practitioners are here to assist you with advice surrounding the MVL process at a free, no-obligation meeting.
Dean Nelson, Nicholas Lee, Andrew Stevens and Michael Roome are all licensed in the United Kingdom to act as Insolvency Practitioners by the Institute of Chartered Accountants in England and Wales. They are bound by the Insolvency Code of Ethics which can be found here.
When acting as Receivers, Administrative Receivers or Administrators they act as agents only, without personal liability and when acting as Administrators, the affairs, business and property of the company are being managed by them.