Search results for: members voluntary liquidation tax

When liquidating a company, your options are contingent upon your company’s financial state. A Creditors’ Voluntary Liquidation (CVL) and, potentially business rescue, is often your best option if your company is insolvent (i.e. can’t pay its debts). However, for a solvent company a Members’ Voluntary Liquidation (MVL) is often the most beneficial solution. An MVL…

Directors may, at some point, consider using a liquidation process for their company. This could be for a number of reasons, including: These scenarios are relatively common. However, many parts of the liquidation process are not widely known, for example, the various rights of both creditors and directors involved in the liquidation. Directors should be…

The past 2-3 years have been difficult and challenging time for thousands of businesses across the UK due to the pandemic and subsequent lockdowns and now the cost of living crisis. If your company has struggled financially and is now insolvent, meaning it can no longer pay its bills or debts, then it’s time to…

For company directors, efficiency is one of the most important priorities when considering winding up operations. An efficient procedure means more retained profits go to shareholders, making for a more comfortable retirement, or serving as a healthy injection of capital for a future venture. However, with several methods of closing a company available, it can…

While there are many ways to close a company, one of the simplest methods is to request to remove it from the Companies House register. This process is called a company strike off, sometimes referred to as dissolution. While it may be a simple and cost effective way to close a company, it’s often not…