Are you a contractor looking to close down your solvent company?
An MVL could be the most tax-efficient way…
There are many different reasons why you might want to close down you solvent contractor company, including:
- you’ve just completed a contract
- you’ve decided to work for a company as a full-time employee
- you are approaching retirement
- you might simply want to cease contracting and unlock the cash from your limited company.
Whatever the reason, there are different ways for you to close down your contractor limited company. Depending upon how much cash there is in your company, using a Members’ Voluntary Liquidation (MVL) could be the most tax-efficient way and save you thousands of pounds.
By using an MVL the funds to be distributed are subject to Capital Gains Tax (CGT), rather than Income Tax. If you qualify for Entrepreneur’s Relief (ER) you can benefit from a 10% CGT rate on distributions.
This means considerable tax savings for contractors.
We aim to distribute the assets of your company to shareholders as quickly as possible, usually after 35 days from the date of Liquidation.
Our standard fee for an MVL is £995 +VAT, +disbursements (see below for the disbs).
There is no need for face-to-face meetings – meaning you can begin the MVL process wherever you are based.