When 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…
Read MoreA Members’ Voluntary Liquidation (MVL) is one of the most common methods of closing down a solvent limited company. The MVL process is the most tax-efficient option for companies with large retained profits, allowing shareholders to keep as much of the company’s value as possible. In this article, we will be breaking down the process,…
Read MoreWhen closing a company, its financial position will affect the route to closure chosen by its director(s). There are many reasons why directors would choose to close their company and many scenarios which can play out during the liquidation process. A key thing to be aware of is that a Licensed Insolvency Practitioner must be…
Read MoreA Declaration of Solvency is a legal document that is required to be signed as part of the Members’ Voluntary Liquidation (MVL) process. An MVL is a formal liquidation process that closes a solvent company in a tax-efficient manner, making it a popular option for the directors of solvent companies who are looking to close…
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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.