What is an MVL? If you’re looking to close down your solvent company then one way to do it is through a process called a Members’ Voluntary Liquidation (MVL). An MVL is an HMRC-approved way of liquidating a company which does not have any debts and is no longer needed. It is generally used when…
Read MoreThere are three type of liquidations: 1. Creditors’ Voluntary Liquidation (CVL) This is a process in which you can choose to liquidate an insolvent company that can’t pay its debts and the shareholders agree and pass a ‘winding-up resolution.’ 2. Compulsory Liquidation This is a process whereby a creditor attempts to force your company out…
Read MoreThe process you take to close down your dormant company will depend on whether the company is solvent (i.e. it can pay its debts) or insolvent (i.e. it can’t pay its debts). Having determined this, you can then take the best course of action to close it down. If you are a shareholder of the dormant…
Read MoreA Personal Service Company (PSC) is a limited company normally with one director, a contractor, who owns most or all of the shares of the company. As the director of a PSC, you will get to the point when you will no longer need your company – generally due to retirement or taking up a…
Read MoreYes, you can. If your limited company is insolvent, and there’s no option to rescue or restructure it, then your best option is likely to be a Creditor Voluntary Liquidation (CVL). Instead of waiting to face the implications of a compulsory liquidation, a CVL is generally the preferable option. A CVL can be proposed if…
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Toyah and Nicholas were brilliant in sorting the MVL out for one of my clients. They kept me updated all the way through the process, and the client was delighted with how easily it all went through. I have since referred another case to Clarke Bell – it is very reassuring to know that we are in such safe hands. Many thanks. Martyn
Martyn Thacker
Clarke Bell Ltd were excellent with every aspect of our Members Voluntary Liquidation and in particular they were great value for money. Our contact, Nicholas was extremely professional, most thorough and reached all deadlines to our total satisfaction.
Steve Dawson
Clarke Bell were very good to deal with during the closure of a business I worked for. Although the closure of the business was complicated and slow, Clarke Bell kept me up to date on everything happening and were very helpful. I would highly recommend them.