When liquidating a company, using a cost-effective method is paramount. For solvent companies, it’s in the best interests of directors to be efficient in order to retain as much of their profits as possible. For insolvent companies, cost-effectiveness means paying off a larger portion of the company’s debt. Clearly, choosing the most cost-efficient method of…
Read MoreA Members’ Voluntary Liquidation (MVL) is a procedure used to liquidate and close a solvent company. This is done for a variety of reasons; directors might find their company not profitable enough to continue operating, want to pursue new ventures, take up a PAYE-role (due to the IR35 / off-payroll rules) or retire. An MVL…
Read MoreIt is not uncommon for a solvent company to close for one reason or another. A company’s directors may want to retire, move on to a new project, or the company may simply not be profitable enough to continue operations. A popular solution for directors considering this path is a Members’ Voluntary Liquidation (MVL). During…
Read MoreWhen a company decides to close using a Members’ Voluntary Liquidation (MVL), directors will usually file a signed indemnity during the procedure. Essentially, this allows the company to distribute funds amongst its shareholders without waiting for the MVL to follow the usual channels that allow for the release of funds. As this can take months,…
Read MoreWhen 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…
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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.