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When 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…

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A 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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When a director chooses to liquidate their company through a Members’ Voluntary Liquidation (MVL), there are certain costs that are involved in the process. One of the costs involved in the MVL process is the fee that must be paid to the liquidator, for handling the appointment and carrying out the liquidation. There are also…

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2 March 2021

Members’ Voluntary Liquidation (MVL) is an option open to solvent companies which formally winds-up and closes the business. There are many reasons to consider Members’ Voluntary Liquidation, not least because it is a highly tax-efficient way of closing a business. If you are considering an MVL in 2021 and are looking for more information before…

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17 February 2021

Members’ Voluntary Liquidation (MVL) is a formal process that winds-up a solvent company, consequently freeing up funds and realising its assets. Unlike with other forms of liquidation, such as Creditors’ Voluntary Liquidation and Compulsory Liquidation, it is a voluntary process that is only available to companies that are solvent. There are many reasons a director…

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